China's Foldable Phone Market 2024 Growth Report: Huawei and Honor Lead, Book-Fold Dominates

China's Foldable Phone Market 2024 Growth Report: Huawei and Honor Lead, Book-Fold DominatesA blog post released by market research firm CounterPoint Research on February 21st reveals that China's foldable phone market grew by 27% year-over-year in 2024, demonstrating robust growth despite a slight deceleration. The report provides an in-depth analysis of brand competition, product performance, and market trends, offering valuable data and insights into this rapidly developing segment

China's Foldable Phone Market 2024 Growth Report: Huawei and Honor Lead, Book-Fold Dominates

A blog post released by market research firm CounterPoint Research on February 21st reveals that China's foldable phone market grew by 27% year-over-year in 2024, demonstrating robust growth despite a slight deceleration. The report provides an in-depth analysis of brand competition, product performance, and market trends, offering valuable data and insights into this rapidly developing segment.

The report highlights Huawei and Honor's dominant position in the Chinese foldable phone market in 2024. Huawei achieved significant success with its Mate X and Pocket series. Specifically, the Mate X5 and X6 book-fold models led the market, while the Pocket 2 and Nova Flip dominated the smaller foldable segment. Huawei's market share exceeded 50% among the top 5 smartphones, showcasing its strong presence and brand influence in the high-end foldable market.

Honor closely followed Huawei, achieving remarkable results. Its Magic Vs2 and Vs3 series, with their slim designs and excellent user experience, garnered significant consumer favor, achieving a double-digit market share and solidifying its important position in the Chinese foldable phone market.

Besides these two giants, other major Chinese OEMs and international brands like Samsung actively participated, but their market shares remained in the single digits, significantly lagging behind Huawei and Honor. This indicates a high degree of market concentration among brands in China's foldable phone market, with a pronounced head-to-head effect.

The report also detailed the best-selling foldable phone models in China in 2024. Notably, the top five best-selling models accounted for over 50% of total sales, with Huawei and Honor each contributing two models, and vivo claiming the remaining spot. This further confirms Huawei and Honor's market dominance and consumer recognition of their products.

In terms of form factor, book-foldable phones were more popular in the Chinese market, accounting for 67% of sales, while smaller foldable phones accounted for 33%. This aligns with Chinese consumers' preference for larger screen displays. The continuous improvement in durability and user experience of book-foldable phones also contributed to their market share growth. Larger screens offer a more comfortable experience for reading, watching videos, and gaming, appealing to Chinese consumers who prioritize multimedia entertainment.

Although the foldable phone market currently represents a niche segment, accounting for approximately 3% of the Chinese smartphone market, its growth potential is enormous. With continuous technological advancements, foldable phones have made significant strides in thickness, hinge technology, weight, battery life, and camera performance, resulting in a more mature user experience. Lighter bodies, more durable hinges, longer battery life, and enhanced camera capabilities have all improved the user experience, encouraging greater consumer adoption.

CounterPoint Research's report also hints at future trends in China's foldable phone market. With continuous technological innovation, gradual price reductions, and increased consumer awareness, foldable phones are expected to experience more rapid growth in the coming years. The prevalence of 5G networks and the continuous development of related applications will further highlight the advantages of foldable phones, driving market expansion.

The success stories of Huawei and Honor, as highlighted in the report, deserve in-depth study by other manufacturers. Huawei successfully captured high-end market demand and established a strong brand image through its Mate X and Pocket series. Honor, with its Magic Vs series, achieved breakthroughs in slim design and user experience, attracting a large number of consumers. These successful experiences provide valuable lessons for other manufacturers and point the way for the future development of China's foldable phone market. In the future, manufacturers who best meet consumers' needs for large screens, slim bodies, long battery life, and high-performance cameras will be more likely to succeed in this competitive market. The Chinese foldable phone market is heading towards greater diversification, high-end features, and increased intelligence, with limitless possibilities for the future.

In summary, China's foldable phone market demonstrated strong growth in 2024, with Huawei and Honor dominating, and book-fold designs favored by consumers. Despite being a niche market currently, the foldable phone market holds significant potential for future growth due to technological advancements and improved user experience, making it a segment worthy of continued attention.