Honor steps up challenge to Samsung with launch of thin foldable phone

Honor launched the Magic V3, its latest foldable smartphone, in international markets on Thursday as the Chinese tech company ramps up its challenge to Samsung in the fast-growing market.

The handset, which has a screen that folds like a book, has already been launched in China, but its release overseas highlights Honor's continued push to expand its share in the high-end market abroad.

With the Honor Magic V3, Honor talked up how thin the device is compared to rivals. The company said that the phone measures 9.2 millimeters when closed versus 12.1 millimeters for Samsung's latest Galaxy Z Fold6.

Honor also emphasized the artificial intelligence features on the phone, a strategy that is in line with other device makers who are also seeking to convince consumers to fork out more money for high-priced upgrades.

The foldable smartphone has a feature called Magic Portal that can now open up on multiple screens, according to Honor. This feature allows users to easily drag information across apps. If someone sends you an address for example, you could drag that straight into Google Maps without copying and pasting. If someone sends a picture, a user can also drag that into Google search.

The Magic V3 is not Honor's first foldable phone. The Chinese brand continues to pursue these devices because it is a segment of the market that is seeing rapid growth. Global foldable smartphone shipments grew 48% year-on-year in the second quarter of 2024, Counterpoint Research data shows.

Western Europe, Asia Pacific — which excludes India, China and South Korea — and Latin America regions, saw shipments more than double in the same period. These are the regions Honor is targeting.

In Western Europe, Honor overtook Samsung for the first time to claim the number one spot by market share in the second quarter, according to Counterpoint Research.

Honor said it plans to release the Magic V3 in countries including the UK, France, Germany, Italy and Spain, as well as markets in the Middle East, Asia Pacific and Africa.

Competition in the space continues to rise with Google last month launching its latest foldable phone.

Honor was spun off from Chinese telecommunications giant Huawei in 2020 in a bid to avoid U.S. sanctions which were crippling Huawei's smartphone business. Honor has since been aggressively launching smartphones with a focus on international markets.