Core Insights - The folding smartphone market in Western Europe is shifting from a dual-brand dominance of Samsung and Honor to a more competitive landscape with the entry of Motorola and Google [4][5][7] - Motorola's Razr and Google's Pixel Fold have gained significant market share, indicating a diversification in the competitive dynamics of the folding smartphone segment [5][7][8] Market Dynamics - In the first half of 2025, Motorola's Razr 60 led the market with a 15% share, while combined with Razr 50, the total share reached approximately 27%, comparable to the previous year's leading models [7] - Google's Pixel 9 Pro Fold and Samsung's Galaxy Z Flip6 each maintained just over 10% market share, contributing to a more balanced competitive environment [7][8] - The overall folding smartphone market is experiencing steady growth, with a decrease in concentration and an increase in competition among brands [5][7] Future Outlook - Google’s Pixel 10 Pro Fold launched in early October 2025, supported by promotional activities, is expected to perform well in markets like the UK [8] - Motorola aims to surpass Honor and become the second-largest brand in the European folding smartphone market by expanding distribution and promotional efforts [8] - The market is anticipated to become more active during the holiday season, with brands that demonstrate confident product design and stable execution likely to capture growth [8][9] - Apple is expected to enter the folding smartphone market in the second half of 2026, which may reshape resource allocation and pricing strategies among operators [8]

Core Insights - The European smartphone market is recovering in Q2 2025 with a year-on-year shipment increase of 4% after a sluggish first quarter [1] - Despite economic and geopolitical challenges, as well as new EU regulatory pressures, manufacturers' innovative products and promotional strategies have effectively mitigated downside risks [1] Company Highlights - Honor has emerged as the standout performer, with a remarkable year-on-year shipment increase of 42%, leading the growth among the top five manufacturers and securing a position in the top four in Europe [1] - Honor's growth is attributed to its foldable screen strategy and technological innovations, with the Magic V series laying a solid foundation [1] - The new Magic V5 model has gained popularity due to its lightweight design and edge AI features [1]

Core Insights - The European foldable smartphone market has experienced rapid growth, with a year-on-year sales increase of 37% last year, indicating significant market potential [1] - Samsung has established a near monopoly in the foldable screen sector due to its first-mover advantage and leading position in the European smartphone market [1] - Chinese brands have emerged strongly, significantly increasing their market share in the European foldable screen market [1] Market Dynamics - Honor's Magic V series has seen its market share in the European foldable screen segment rise from less than 10% in 2023 to 34% in 2024, with sales surging by 377%, making it one of the most influential foldable brands in the region [1] - The entry of Chinese brands into the market has injected new vitality into the competition within the European foldable screen market [1] - The competitive landscape for Chinese foldable products in Europe is expected to improve as a result of this increased market presence [1]

Group 1 - Honor has undergone significant personnel changes under the "Eagle Plan," with 45% of key positions in the China region being adjusted, including the departure of high-level executives like Ni Jiayue [1] - Honor's market share has been declining, with data from Canalys indicating that it has fallen out of the top five in the Chinese market for two consecutive quarters, remaining in the "Others" category [4][7] - The company has attempted to boost its market presence by launching several cost-effective products since April, but faced challenges such as allegations of score manipulation regarding its flagship gaming phone [9][12] Group 2 - The new CEO, Li Jian, has proposed a strategic shift towards becoming an AI terminal ecosystem company, although this transformation has yet to reflect in sales figures [2][22] - Honor's market position has been adversely affected by intense competition, with rivals increasing R&D investments and engaging in aggressive pricing and marketing strategies [8] - The company aims to enhance its brand image and market share through the introduction of new products, but faces challenges in product innovation and consumer trust [8][10] Group 3 - Honor's recent product launches include the Honor Power with an 8000mAh battery and the Honor GT Pro, which has been criticized for alleged score manipulation in performance benchmarks [9][12] - The company is focusing on mid-range products to stimulate sales after falling out of the top five in market share [10][19] - The transition to an AI-focused strategy is seen as a double-edged sword, with potential for growth but also significant challenges in execution and market adaptation [18][24] Group 4 - Honor's previous high point was in Q3 2023 when it regained the top market position with an 18% share, but has since struggled to maintain that momentum [5] - The collaboration with Porsche Design for high-end products has not yielded the expected results, partly due to declining sales of Porsche vehicles in China [19][20] - The upcoming IPO process is critical for Honor, and its ability to present a compelling growth narrative will depend on improving its market share and product competitiveness [24]