Is the Foldable Phone Market Cooling Down? Huawei Leads the Pack, While Others Vie for Share with New Models

Is the Foldable Phone Market Cooling Down? Huawei Leads the Pack, While Others Vie for Share with New ModelsOn October 25th, renowned data research firm IDC released its report on the domestic foldable phone market for the third quarter of 2024. The report showed that the domestic foldable phone market shipped 2

Is the Foldable Phone Market Cooling Down? Huawei Leads the Pack, While Others Vie for Share with New Models

On October 25th, renowned data research firm IDC released its report on the domestic foldable phone market for the third quarter of 2024. The report showed that the domestic foldable phone market shipped 2.23 million units in Q3 2024, which, while still exhibiting year-on-year growth, saw a significant slowdown in its growth rate. This data suggests that the foldable phone market in China may have reached a bottleneck, as consumer interest in foldable phones gradually declines. Manufacturers need to further research market demand and find breakthroughs to overcome this challenge.

Huawei Dominates, Honor Follows Closely

The report reveals that Huawei, with a 41.0% market share, sits firmly on the throne, showcasing its absolute leadership. The launch of the Huawei Mate XT has particularly boosted sales of Huawei's conventional foldable phones, further solidifying its market position. Honor, with a 21.9% market share, occupies the runner-up spot, owing its success to a diverse product lineup encompassing all foldable types except tri-foldables.

Xiaomi MIX Flip's Popularity Pushes It to the Top Three

Xiaomi, powered by the high sales of its Xiaomi MIX Flip, achieved a 17.2% market share, securing a spot among the top three players. This marks Xiaomis first entry into the top ranks of the domestic foldable phone market. The Xiaomi MIX Flip, with its impressive design and performance, has successfully captured consumer attention.

Samsungs New Products Push Sales, but Market Performance Remains Moderate

Samsung released new foldable phone models in the third quarter, achieving a 7.7% market share. However, its overall market performance was underwhelming. Samsung has yet to make a breakthrough in Chinas foldable phone market, and its products havent gained significant popularity among Chinese consumers.

vivo Halts Development, OPPOs New Models Struggle

vivo has paused its vertical foldable phone development and is only relying on its horizontal large foldable phones to compete for market share, a strategy that clearly falls short against brands with more extensive product lines and broader coverage. OPPO's market share stands at a mere 3.2%, placing it sixth. This is primarily attributed to its foldable products being launched last year. In this years rapidly innovating market environment, their competitiveness has waned noticeably.

Lenovo and ZTE Ranked Seventh and Eighth

Besides the top six, Lenovo and ZTE occupy the seventh and eighth positions respectively. Overall, the domestic foldable phone market exhibits a pattern of "Huawei dominating, while other brands vie for market share with new products.

Market Analysis: The Foldable Phone Market Still in Early Stage with Opportunities and Challenges

From a broader perspective, the domestic foldable phone market is still in its early stages of development. With a quarterly shipment volume of 2.23 million units, averaging only a few hundred thousand units per brand, it signifies that foldable phones remain a niche market. Nonetheless, foldable phones demonstrate immense growth potential, attracting an increasing number of consumers drawn to their unique design and functional experiences.

For manufacturers, continuous enhancement of foldable phones performance, design, and user experience is crucial. Furthermore, precise positioning and product offerings tailored to specific user groups will be essential to further explore the foldable phone market and drive its rapid development.

Conclusion

The domestic foldable phone market in Q3 2024 displays a trend of slowing growth while exhibiting substantial future potential. Huawei, driven by its strong brand influence, leading product technology, and extensive product line, holds a dominant market position. Other brands are actively employing new products to compete for market share, but the overall market size remains limited. The foldable phone market will face intensified competition in the future. Manufacturers need to seize opportunities, continuously innovate, and provide consumers with superior products and services to stand out in the competition, fostering sustainable growth in the foldable phone market.