By Chico Mies Yahaya Bello, the former Governor of Kogi State, has formally accepted an invitation from the Economic and Financial Crimes Commission (EFCC), as confirmed by his media office on Wednesday, following consultations with family members, legal advisors, and political associates. According to a statement issued by Ohiare Michael, Director of the Yahaya Bello Media Office, the former governor's decision to appear before the anti-corruption agency underscores his commitment to transparency. Bello faces 19 charges related to money laundering amounting to N80.2 billion. Notably, he has sought to enforce his fundamental rights to ensure due process. The former governor has expressed his support for President Bola Ahmed Tinubu's administration and its anti-corruption initiatives. EFCC Chairman Ola Olukoyede had previously pledged to resign if Bello was not prosecuted, reaffirming the commission's commitment to pursuing the case to its logical conclusion.
The market for foldable smartphones is booming right now, according to DSCC, with shipments of foldable panels reaching a record in 2Q24. 9.8 million panels were shipped, an astounding 151% QoQ and 126% YoY increase.
The primary cause of this growth boom was Samsung's early release of their most recent foldables, the Galaxy Z Flip 6 and Z Fold 6. Samsung seized a large portion of the market by launching early and dominated 2Q24 with a 48% share in foldable panel procurement. This was a significant change from 1Q24 when Huawei led with a 53% share against Samsung's 21%.
With a 32% share, Samsung's Galaxy Z Flip 6 led the pack in foldable panel procurement, followed by the Z Fold 6 at 15%. Huawei's Mate X5 and Pocket 2 both achieved double-digit shares and had excellent performances.
With a 4% share, Honor's Magic V Flip came in directly behind them. Sixty-three per cent of shipments were clamshell designs, an increase from the previous quarter's 53 per cent.
After losing to BOE by 27% to Samsung Display with a 53% share, Samsung Display regained its position as the leading provider of foldable panels. Compared to 1Q24, when BOE led with a 48% share, this was a significant change.
While 3Q24 is anticipated to see continued progress, shipments are forecast to decline by 21% YoY and 30% QoQ to 6.9 million units. Nevertheless, it is anticipated that Huawei's market share would decline to 16% while Samsung's will somewhat increase to 49%. The shift in Samsung's release schedule is upending the current patterns, as Samsung is predicted to hold a 39% market share in 2024 compared to Huawei's 36%.
In the future, DSCC anticipates that Xiaomi, Huawei, and Honour will continue to compete for the top slots, with Samsung's Galaxy Z Flip 6 remaining at the top.
With Huawei increasing panel procurement for its next multi-fold handset, the popularity of the clamshell form factor may decline slightly as in-folding and multi-fold designs begin to gain traction. Because of its clients' seasonal demands, BOE is anticipated to regain the lead by the end of the year in 4Q24.
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