The Foldable Phone Market Remains Hot: Huawei Leads the Way, Tri-Foldable Phone Coming Soon
The Foldable Phone Market Remains Hot: Huawei Leads the Way, Tri-Foldable Phone Coming SoonAccording to the latest research data from CINNOResearch, the sales of foldable phones in the Chinese market continue to expand, with Huawei remaining the market leader. In the second quarter of 2024, sales of foldable phones in the Chinese market reached 2
The Foldable Phone Market Remains Hot: Huawei Leads the Way, Tri-Foldable Phone Coming Soon
According to the latest research data from CINNOResearch, the sales of foldable phones in the Chinese market continue to expand, with Huawei remaining the market leader. In the second quarter of 2024, sales of foldable phones in the Chinese market reached 2.62 million units, representing a year-on-year increase of 125% and a quarter-on-quarter increase of 11%, achieving double-digit growth year-on-year and quarter-on-quarter. This marks the fourth consecutive quarter of triple-digit year-on-year growth. Cumulative sales in the first half of the year reached 4.98 million units, a year-on-year increase of 121%, with a penetration rate of 3.6%. This represents an increase of 1.8 percentage points compared to the penetration rate of 1.7% in the same period last year. In the high-end market above 5,000 yuan, foldable phones achieved a market share of 13%, a significant improvement from just 2% in 2020.
Looking at specific manufacturers, the top three are Huawei, vivo, and OPPO, with market shares of 35.2%, 31.2%, and 11.1% respectively. Following closely behind are Honor, Samsung, Xiaomi, and Moto, although their market shares are significantly smaller, at 10.4%, 5.7%, 2.8%, and 2% respectively.
Huawei's performance in the foldable phone market has been eye-catching, not only maintaining its market share lead but also continuously pushing boundaries in technological innovation. According to Richard Yu, Huawei's tri-foldable phone is scheduled to debut next month, expected to compete directly with the iPhone 16. This will be another attempt by Huawei in the foldable phone arena and signals even fiercer competition in this market.
The foldable phone market has seen rapid development over the past few years, with its unique form factor and functionality attracting a growing number of consumers. As technology continues to advance and product prices decline, foldable phones are poised to become a mainstream mobile phone form factor in the future, and the market size will continue to expand. Huawei's leading position in the foldable phone space will give it a competitive edge in the market going forward. At the same time, other manufacturers will also increase their research and development investment in foldable phones, aiming to carve out a share in this rapidly growing market.
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