China's Foldable Phone Market Report 2024: Huawei Dominates, Industry Faces Challenges and Opportunities

China's Foldable Phone Market Report 2024: Huawei Dominates, Industry Faces Challenges and OpportunitiesThe foldable phone market has recently generated considerable discussion. Except for Huawei, other manufacturers are facing developmental bottlenecks and struggling to accurately grasp market demand

China's Foldable Phone Market Report 2024: Huawei Dominates, Industry Faces Challenges and Opportunities

The foldable phone market has recently generated considerable discussion. Except for Huawei, other manufacturers are facing developmental bottlenecks and struggling to accurately grasp market demand. In response, IDC released its 2024 report on the domestic Chinese foldable phone market, providing crucial insights for the industry. The report reveals that approximately 9.17 million foldable phones shipped domestically in 2024, representing a year-on-year growth of 30.8%, demonstrating the market's continued growth potential. However, a 9.6% year-on-year decline was observed in Q4 2024, marking the first downturn after nine consecutive quarters of year-on-year growth, with approximately 2.5 million units shipped that quarter. IDC analysts attribute this to the foldable phone market nearing its limits in terms of usage scenarios and target user groups, making it difficult to achieve greater breakthroughs and attract more users. Therefore, 2025 is predicted to be a lean year for the foldable phone market, with many brands adopting a wait-and-see or pause strategy.

IDC's report details the 2024 rankings of the domestic Chinese foldable phone market. Huawei secured the top spot with a 48.6% market share and approximately 4.4567 million units shipped, holding an absolute leading position. Honor followed in second place with a 20.6% market share and approximately 1.889 million units shipped. Vivo ranked third with an 11.1% market share and approximately 1.0179 million units shipped, followed by Xiaomi with a 7.4% market share and approximately 678,600 units, and OPPO with a 5.3% market share and approximately 486,000 units. Other brands collectively accounted for a 7.0% market share and approximately 640,000 units, including notable manufacturers like Samsung, Nubia, and Motorola.

The market rankings clearly show Huawei's dominance in the domestic foldable phone market, holding nearly half of both the market share and shipment volume. On average, one out of every two foldable phones sold is a Huawei. Other brands' performances are relatively close, with Honor showing comparatively strong results. Xiaomi's performance is noteworthy, with its vertically folding smaller models achieving significant success over the past year, while its larger horizontally folding models performed more moderately. This has spurred industry speculation about Xiaomi's future product strategy, with predictions of strategic adjustments in 2025 to seek new breakthroughs.

The report data indicates that while the domestic foldable phone market showed overall growth in 2024, the Q4 shipment decline signals intensifying competition and challenges to growth potential. Huawei's leading position highlights its strong brand influence and technological prowess, while also reflecting the immense pressure faced by other manufacturers.

Huawei's success is not accidental. Its robust R&D capabilities, comprehensive ecosystem, and precise market positioning have laid a solid foundation for its leading position in the foldable phone market. Huawei's continuous innovation has resulted in a series of competitive foldable phone products that meet diverse consumer needs and have received widespread acclaim.

Compared to Huawei, other manufacturers face numerous challenges in the foldable phone market. Firstly, the technological barriers are high; the R&D and manufacturing of foldable phones are far more difficult than traditional straight phones, requiring significant investment in R&D resources and capital. Secondly, the market education costs are high; consumer awareness and acceptance of foldable phones are relatively low, requiring effective market promotion and education to increase market understanding.

Furthermore, the high cost and price of foldable phones limit their market penetration. Consumers consider price, performance, and user experience when purchasing foldable phones, so manufacturers must continuously improve product cost-effectiveness to attract more buyers.

Honor, as a sub-brand of Huawei, has also achieved impressive results in the foldable phone market. Leveraging Huawei's technological accumulation and brand influence, it has launched a series of high-quality foldable phone products, creating differentiated competition with Huawei and gaining market share.

Vivo, Xiaomi, and OPPO are also actively deploying in the foldable phone market, but their market share remains relatively low due to gaps in technological accumulation and brand influence. These manufacturers need to increase R&D investment, enhance technological capabilities, and develop more competitive products to gain a foothold in the intense market competition.

Other brands, such as Samsung, Nubia, and Motorola, are also participating in the domestic foldable phone market competition, but their market share is relatively small. These manufacturers need to find their own market positioning and advantages to secure a place in the fiercely competitive market.

It's important to note that while the domestic foldable phone market experienced a downturn in Q4 2024, this does not mean the market has lost its growth potential. With continuous technological advancements and price reductions, the market penetration of foldable phones will gradually increase.

The future foldable phone market will face greater challenges and opportunities. Manufacturers need to continuously innovate and develop more attractive products to stand out in the fiercely competitive market. Consumers also need to rationally view foldable phones and choose suitable models based on their actual needs.

IDC's prediction of a lean year for the foldable phone market in 2025 does not negate its future prospects but serves as a reminder for manufacturers to cautiously respond to market changes, avoid blind expansion, and pursue rational development. Breakthroughs in technological innovation, user experience enhancement, and market positioning are crucial for the foldable phone market to experience another surge.

In summary, the domestic Chinese foldable phone market in 2024 demonstrated a trend of the strong getting stronger, while weaker players face significant challenges. Huawei's leading position is solidified, and other manufacturers need to continuously innovate and improve their competitiveness to secure a place in future market competition. 2025 will be a crucial year, testing the strategic vision and execution capabilities of all manufacturers.