The Foldable Phone Market Continues to Heat Up, with Huawei MateX5 Leading the Premium Segment

The Foldable Phone Market Continues to Heat Up, with Huawei MateX5 Leading the Premium SegmentRecently, iResearch released the "2024 China Foldable Phone Market and Consumer Trend Research Report." The report indicates that in the second quarter of 2024, the premium smartphone market segment above $600 saw a year-on-year growth of nearly 3%

The Foldable Phone Market Continues to Heat Up, with Huawei MateX5 Leading the Premium Segment

Recently, iResearch released the "2024 China Foldable Phone Market and Consumer Trend Research Report." The report indicates that in the second quarter of 2024, the premium smartphone market segment above $600 saw a year-on-year growth of nearly 3%. Foldable phone shipments continue to grow rapidly, and they are considered a key driver of the premium market.

Since vivo launched the XFold in 2022, major players in the domestic smartphone market, including all except Apple, have joined the foldable phone competition. Within just two years, various manufacturers have released at least three new foldable phone models each, with performance steadily improving and an astonishing pace of product iteration.

In the foldable phone market, brands like Honor, vivo, OPPO, and Xiaomi are also actively laying out their strategies, leading to increasingly diversified market competition. Huawei has been particularly prominent in the ultra-premium market above 10,000 yuan, capturing a 67% market share and becoming the leader in this segment.

Huawei holds a leading edge in the foldable phone market, with its product line encompassing various forms like inward-folding horizontal, outward-folding horizontal, and vertical folding. It boasts a 42% market share, ranking first. Since its launch in 2023, the Huawei MateX5 has consistently enjoyed strong sales, and as of the second quarter of 2024, it still holds over a 40% share in its segment, continuing to lead its peers.

The report points out that the development trend in the foldable phone market reflects a growing consumer demand for premium smartphones, and foldable phones, with their unique innovation and functionality, are the optimal choice to meet this demand. In the future, the foldable phone market is projected to sustain rapid growth and is expected to become a mainstream trend in the smartphone industry within the next few years.

As technology advances, the performance, design, and user experience of foldable phones will continue to improve, attracting more consumers and further expanding market size. Simultaneously, various manufacturers will increase their R&D investment in foldable phones, continuously launching more innovative products to satisfy the increasingly diverse needs of consumers.

In conclusion, the foldable phone market has emerged as a growth engine for the smartphone industry. As the leader, the Huawei MateX5 will continue to steer market development, driving foldable phones to become the mainstream trend of future smartphones.