Foldable Phone Market Experiences Rapid Growth, Huawei Leads the High-End Segment

Foldable Phone Market Experiences Rapid Growth, Huawei Leads the High-End SegmentA recent report titled "2024 China Foldable Smartphone Market and Consumer Trend Research Report" published by iResearch Consulting shows that in the second quarter of 2024, the market share of high-end smartphones priced above $600 increased by nearly 3% year-on-year, while foldable phone shipments maintained rapid growth. Foldable phones are poised to become a key driving force in the high-end market

Foldable Phone Market Experiences Rapid Growth, Huawei Leads the High-End Segment

A recent report titled "2024 China Foldable Smartphone Market and Consumer Trend Research Report" published by iResearch Consulting shows that in the second quarter of 2024, the market share of high-end smartphones priced above $600 increased by nearly 3% year-on-year, while foldable phone shipments maintained rapid growth. Foldable phones are poised to become a key driving force in the high-end market.

Since the launch of the vivo XFold in 2022, all major smartphone manufacturers in China, except Apple, have entered the foldable phone market. In just two years, major manufacturers have iterated their foldable phone products to at least three models, with continuously improving performance parameters. Today, foldable phone forms are becoming increasingly diverse. As a manufacturer with the earliest product line covering all formsinward folding, outward folding, and vertical foldingHuawei leads the foldable phone market with a 42% market share.

Meanwhile, Honor, vivo, OPPO, and Xiaomi are actively catching up, leading to a more diversified market competition landscape. In the ultra-high-end market of over 10,000 yuan, Huawei holds a dominant position with a 67% market share. Notably, the Huawei MateX5, launched in 2023, has consistently been a top-selling model and maintained over 40% market share in the segment as of the second quarter of this year.

The report highlights that the rapid growth of the foldable phone market is closely linked to consumers' demand for a more premium experience. Foldable phones, with their larger screens, enhanced performance, and unique designs, have attracted a growing number of users. In the future, with technological advancements and price reductions, foldable phones are expected to become more widely adopted, becoming a significant part of the mainstream smartphone market.