China's Foldable Phone Market Report 2024: Huawei Leads, but Q4 Shipments Decline for the First Time

China's Foldable Phone Market Report 2024: Huawei Leads, but Q4 Shipments Decline for the First TimeIDC recently released its 2024 report on China's foldable phone market, revealing annual shipments of approximately 9.17 million units, a year-on-year increase of 30

China's Foldable Phone Market Report 2024: Huawei Leads, but Q4 Shipments Decline for the First Time

IDC recently released its 2024 report on China's foldable phone market, revealing annual shipments of approximately 9.17 million units, a year-on-year increase of 30.8%. This growth indicates a sustained strong performance and consumer interest in the market. However, the report also highlights a significant detail: Q4 2024 saw foldable phone shipments decline by 9.6% year-on-year to 2.5 million units. This marks the first year-on-year decrease since the market's rapid expansion, suggesting a potential slowdown in growth.

Nine consecutive quarters of rapid growth established a substantial user base and brand influence for Chinese foldable phone brands. The Q4 decline, however, signals a crucial turning point, potentially attributable to factors such as market saturation, decreased consumer purchasing power, and competition from other consumer electronics. Manufacturers must seriously consider and address this, re-evaluating market strategies and product portfolios to maintain a competitive edge.

For the full year 2024, Huawei secured the top spot with a commanding 48.6% market share, controlling nearly half the market. This leadership isn't accidental but a result of sustained investment in R&D and innovation. Huawei's deep-rooted expertise in foldable technology, coupled with its products' superior performance stability and smooth folding mechanisms, has garnered widespread consumer recognition. Crucially, Huawei's continuous introduction of new features and designs tailored to user needs has enhanced user experience and solidified its dominance in the high-end market.

Following Huawei are Honor, vivo, Xiaomi, and OPPO, holding 20.6%, 11.1%, 7.4%, and 5.3% market share respectively. These four brands are actively expanding their presence in the foldable phone market, launching their flagship products. Significant resources are invested in technological innovation, product design, and marketing to stand out in the competitive landscape. However, they face substantial challenges against Huawei's strong position and need to focus on differentiation and enhancing product competitiveness.

While Q4 2024 saw a year-on-year shipment decline, this doesn't signal stagnation for China's foldable phone market. Instead, it signifies market maturity, indicating a transition to a more rational development phase. Future competition will prioritize product quality, innovative technologies, and user experience over sheer scale.

IDC's report reveals a shift from rapid growth to stable development in China's foldable phone market. Despite the Q4 decline, annual growth remained substantial. Huawei's lead remains secure, but other manufacturers are actively pursuing it. The future will emphasize technological innovation, product differentiation, and user experience enhancement, creating a more intense and exciting competition. Success will hinge on adapting to market changes and meeting consumer needs, requiring not only technical prowess but also sharp market insight and strategic planning.

The 2024 performance sets the stage for the competitive landscape of 2025 and beyond, driving the market toward maturity and prosperity. Manufacturers' strategic adjustments and technological breakthroughs will directly shape the future, demanding ongoing attention. The future holds both opportunities and challenges, making this market a compelling one to watch.