China's Foldable Smartphone Shipment Growth Slows Amid Global Dip in Demand
- tech360.tv
- Dec 24, 2024
- 2 min read
The growth of foldable smartphone shipments in China is showing signs of slowing down this year, as reported by Counterpoint Research. Despite this, China is expected to contribute to over 50% of global shipments in the handset segment by 2024.
In the world's largest smartphone market, China, foldable handset shipments are projected to reach 9.1 million units in 2024, marking a 2% increase from the previous year, according to Counterpoint's latest market report released on Friday.
This growth rate is a significant drop from the triple-digit annual percentage increases seen in previous years, such as 103% in 2023, 191% in 2022, and 442% in 2020.
The slowdown in China's foldable handset shipment forecast aligns with a recent global decline in demand. Global foldable handset shipments experienced a 1% year-on-year decrease in the three months ending September, following six consecutive quarters of growth, as per a Counterpoint report from November.
This decline in the third quarter was the first-ever in the segment's history and was primarily attributed to Samsung Electronics' performance with its Galaxy Z Flip 6 and Fold 6 models, which were deemed relatively underwhelming.
Counterpoint's senior analyst Jene Park highlighted that the global foldable smartphone segment is in a transitional phase, facing challenges as it moves from a niche market to the mainstream. Park mentioned that improving price accessibility, technological reliability, and consumer perceptions are crucial for overcoming this phase.
To drive more consumer interest and wider adoption, the Counterpoint report emphasised the importance of innovative and compelling use cases. Despite the slowdown, Counterpoint noted that China's foldable handset segment continues to shine in the country's saturated smartphone market.
Huawei Technologies remains the top-selling foldable smartphone vendor in China, holding approximately half of the total domestic shipments, according to Counterpoint. Despite facing US sanctions, Huawei introduced the Mate XT, the world's first trifold smartphone, in September, followed by the Mate X6 in November, expected to solidify the company's leading position in this segment.
In the third quarter, Huawei's foldable smartphone shipments in China reached 1.12 million units, marking a 97% increase from the previous year, as reported by research firm CINNO. During the September quarter, Huawei dominated 85% of high-end foldable handsets (priced above 10,000 yuan or US$1,370) in mainland China, according to CINNO data.
China's foldable smartphone shipments are expected to reach 9.1 million units in 2024, showing a 2% increase from the previous year.
Global foldable handset shipments saw a 1% year-on-year decline in the three months ending September, following six consecutive quarters of growth.
Huawei Technologies remains the leading foldable smartphone vendor in China, accounting for around half of the total domestic shipments.
Source: SCMP
