Chinese Foldable Phone Market Update

TapTechNews May 28th, according to the latest report released by market research firm CounterpointResearch, against the background of only a 2% increase in the sales volume of the Chinese mobile phone market in the first quarter of 2024, the sales volume of foldable screen phones increased by 48% year-on-year and continued to maintain a strong growth momentum.

Since the beginning of 2020, foldable smartphones have been a strategic focus of Chinese smartphone original equipment manufacturers. Many OEM manufacturers are pinning their hopes on the new form to rejuvenate the originally stagnant smartphone market and expand their penetration in the high-end market.

TapTechNews cited the agency's chart that the sales volume of book-style (left-right folding) in the first quarter of 2024 increased by 91%, while the sales volume of small folding (up-down folding) screen devices decreased by 1% year-on-year, indicating that the foldable screen devices in the book-style form are more favored by consumers.

Huawei has a place in the Chinese foldable device market and is one of the original equipment manufacturers that first launched foldable products. In the first quarter of 2024, Huawei was in the leading position in the sales of book-type and clamshell-type foldable products, thus marking the recovery of Huawei.

The growth of Huawei's market share is mainly due to the first launch of a foldable product supporting 5G. Among them, the book-style Mate X5 and the small folding Pocket 2 have become best-selling products once they were launched.

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