Foldable Phone Market Experiences Strong Growth, China Leads Globally
Foldable Phone Market Experiences Strong Growth, China Leads GloballyAccording to the latest foldable smartphone shipment tracker report released by Counterpoint Research, global foldable smartphone shipments grew by 48% year-on-year in the second quarter of 2024. The Chinese market continues to lead the growth of the foldable phone market, accounting for over half of total shipments
Foldable Phone Market Experiences Strong Growth, China Leads Globally
According to the latest foldable smartphone shipment tracker report released by Counterpoint Research, global foldable smartphone shipments grew by 48% year-on-year in the second quarter of 2024. The Chinese market continues to lead the growth of the foldable phone market, accounting for over half of total shipments. Notably, other regional markets also witnessed significant expansion this quarter.
Western Europe, Asia Pacific (excluding China, India, and South Korea), and Latin America all saw substantial increases in foldable phone shipments, primarily driven by the strong performance of Chinese smartphone brands, particularly Honor and Motorola. These brands have been aggressively expanding in these regions, launching competitive products and attracting consumers through effective marketing strategies.
The report attributes the growth of the foldable phone market to the following factors:
- Technological Advancements: Foldable phones are continuously improving, featuring larger screens, enhanced performance, and a better user experience.
- Price Decline: The prices of foldable phones are gradually decreasing, making them affordable for a wider range of consumers.
- Expanding Application Scenarios: Foldable phones are finding new applications, such as productivity tools, entertainment devices, and mobile office equipment.
Overall, the foldable phone market is thriving and is projected to continue its strong growth trajectory in the coming years. As technology advances and prices decline, foldable phones are expected to become more mainstream and become one of the dominant smartphone form factors.
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