On Wednesday, Honor unveiled its latest innovation, the Magic V5, a sleek and advanced thin foldable phone that sets the stage for a new rivalry with the market leader, Samsung. Initially available in China, Honor plans to expand the availability of the Magic V5 to international markets later this year, aiming to capture the attention of global consumers.
Honor, which separated from the tech giant Huawei in 2020, is striving to distinguish itself in the competitive smartphone landscape by emphasizing the artificial intelligence, battery life, and compact size of the Magic V5. The device measures between 8.8 mm to 9 mm when folded, depending on the color option chosen, marking a reduction from its predecessor, the Magic V3, which was 9.2 mm thick. Additionally, the Magic V5 weighs between 217 grams to 222 grams, a slight improvement over the previous model's 226 grams.
One of the standout features of the Honor Magic V5 is its impressive battery capacity of over 6000 milliampere-hour, making it one of the top contenders in the foldable phone market. Honor will also offer a special 1 terabyte storage version in China, further enhancing its appeal to tech-savvy consumers.
As competition in the foldable smartphone sector intensifies, Honor recognizes the challenge of capturing market share. According to the International Data Corporation (IDC), foldable smartphones represented less than 2% of the overall smartphone market in 2024. Samsung leads this niche with a substantial 34% market share, followed closely by Huawei at just under 24%. Honor currently holds fourth place with nearly 11% market share, indicating a promising foothold in this emerging market.
Honor appears to be strategically positioning itself against Samsung, which is set to unveil its own foldable device on July 9. Francisco Jeronimo, a vice president at IDC, remarked that the Magic V5 is a compelling product that could resonate with consumers seeking a high-quality foldable smartphone. Jeronimo emphasized that the Magic V5 is a device that challenges the status quo, especially as Samsung prepares to launch its seventh generation of foldable phones.
The quest for slimmer foldable phones has become a prominent battleground for manufacturers aiming to provide large screen sizes without the added weight. Analysts predict that Samsung's upcoming release may rival Honor's Magic V5 in terms of size and thickness, potentially increasing competition in the foldable segment.
Despite the promising features of the Magic V5, Honor faces significant challenges in establishing its brand against Samsung's extensive distribution network and brand equity. Neil Shah, co-founder of Counterpoint Research, noted that Samsung's vertical integration—owning various components of its supply chain, from displays to batteries—gives it a competitive edge. If Samsung successfully develops a thinner foldable phone, the unique selling points of the Magic V5 may diminish in the face of heightened competition.
As the foldable smartphone market continues to evolve, Honor's Magic V5 emerges as a noteworthy contender with its sleek design and impressive battery capabilities. However, the company's challenge lies in differentiating itself from established players like Samsung, which has a well-established presence in the global market. The upcoming months will be crucial for Honor as it seeks to expand its reach and solidify its place in the foldable phone revolution.
