The Foldable Smartphone Market is Booming: Huawei Leads the Charge Amidst Fierce Competition!

The Foldable Smartphone Market is Booming: Huawei Leads the Charge Amidst Fierce Competition!iResearch Consulting released its "2024 China Foldable Smartphone Market and Consumer Trend Research Report" on August 29th, shedding light on the current state and future trends of the Chinese foldable smartphone market. The report reveals that the foldable smartphone market is experiencing rapid growth and is highly likely to become a "mainstay" in the high-end sector

The Foldable Smartphone Market is Booming: Huawei Leads the Charge Amidst Fierce Competition!

iResearch Consulting released its "2024 China Foldable Smartphone Market and Consumer Trend Research Report" on August 29th, shedding light on the current state and future trends of the Chinese foldable smartphone market. The report reveals that the foldable smartphone market is experiencing rapid growth and is highly likely to become a "mainstay" in the high-end sector.

Strong Performance in the High-End Market, Foldable Smartphone Share Continues to Climb

The report highlights that in the second quarter of 2024, the domestic high-end market exceeding $600 USD saw a year-on-year growth of 22.2% in market share, reaching 18.54 million units. Among these, foldable smartphones shipped 2.57 million units, representing a 38% year-on-year increase. This signifies a continual rise in the proportion of foldable smartphones within the high-end market, indicating a substantial growth trend.

Accelerated Iteration of Foldable Smartphones, Brands Vie for Position

Leading domestic smartphone brands are aggressively expanding into the foldable smartphone market, continuously upgrading their products to offer consumers more diverse options. The report reveals:

• Huawei launched its first foldable phone, the Huawei MateX, in February 2019, and its X series is now in its fourth generation.

• Samsung debuted its first foldable smartphone in February 2019, and it has now reached its sixth generation.

• vivo commercialized its first foldable smartphone in April 2022, and it is currently in its third generation.

• OPPO launched its first foldable smartphone in December 2021, and the line is now in its third generation.

• Xiaomi commercialized its first foldable phone in March 2021, and it's currently in its fourth generation.

• Honor launched its first foldable smartphone in January 2022, and it's currently in its third generation.

Huawei Leads the Market, vivo Shows Strong Upward Momentum

The report shows that Huawei holds a commanding 42% share in the foldable smartphone market during the first half of the year, solidifying its position as the leader. vivo follows closely with a notable 23% market share. Honor ranks third with a 21% share. OPPO, Samsung, and Xiaomi respectively occupy positions four to six, with market shares of 8%, 3%, and 1%.

Huawei Reigns Supreme in the Ultra-High-End Market, Samsung Closely Trails

In the ultra-high-end market exceeding 10,000 yuan (approximately $1,400 USD), Huawei dominates with a whopping 67% market share. Samsung comes in second with a 29% share. Other brands, due to their smaller market share, remain unranked.

Huawei Maintains Leadership in the Horizontal Large Foldable Market, vivo and Honor Closely Behind

In the horizontal large foldable market, Huawei holds the top spot with a 43% share. vivo follows in second place with a 27% share. Honor occupies the third position with a 13% share. Samsung and Xiaomi occupy fourth and fifth places, respectively, with 5% and 4% market shares.

The Foldable Market Landscape May See Shifts in the Future

The overall report suggests that Huawei currently holds the lead in the Chinese foldable smartphone market. However, vivo's impressive performance in the second quarter, driven by the launch of the vivo XFold3 series, is noteworthy. In the third quarter, Samsung, Xiaomi, and Honor will also unveil new foldable smartphones. Consequently, the future landscape of the foldable market could see a change, with intensified competition.

Conclusion

The Chinese foldable smartphone market is witnessing rapid growth, with numerous brands continuously introducing new products, fueling the market's competitiveness. As technology advances and user acceptance increases, the future holds vast potential for the Chinese foldable smartphone market.