Foldable Smartphones in Chinese Market Growth, Market Share, and Technological Advancements

TapTechNews August 22nd news, according to CINNO Research data, in the second quarter of 2024, the sales volume of foldable smartphones in the Chinese market reached 2.62 million units, with a year-on-year increase of 125% and a sequential increase of 11%, achieving double-digit growth both year-on-year and sequentially, and has maintained a triple-digit year-on-year growth rate for four consecutive quarters.

In the first half of 2024, the cumulative sales volume of foldable smartphones in the Chinese market reached 4.98 million units, with a year-on-year increase of 121%, and the penetration rate was 3.6%, an increase of 1.8 percentage points compared to the penetration rate of 1.7% in the same period last year, and reached 13% in the high-end market above 5,000 yuan ($700), while this figure was only 2% in 2020.

TapTechNews learned from the report that in terms of market share:

1. In the second quarter of 2024, Huawei ranked No. 1 in the domestic market share, and the share increased by 1 percentage point year-on-year;

2. Vivo ranked second, and the growth of the mainstream brand's market share was the largest, mainly contributed by its new models XFold3/XFold3Pro listed in March;

3. OPPO ranked third in China, and the share decreased by 5 percentage points year-on-year, mainly due to the extension of its new model's listing cycle.

The report also mentioned that in the second quarter of 2024, the sales volume of foldable smartphones in the Chinese market equipped with AI technology accounted for 42%, a significant year-on-year increase of 42 percentage points and a sequential increase of 10 percentage points.

In addition, in the second quarter of China's foldable phone market, the sales volume of the thickness less than 12mm accounted for 70%, a year-on-year increase of 47 percentage points and a sequential increase of 19 percentage points. The median value of the folding thickness of new models listed in the first half of 2024 was 14.34mm, and the gap with the iPhone 15 Pro Max was reduced to 6.09mm, while this figure was 8.00mm in 2020.

In terms of weight, from 2020 to the first half of 2024, the weight of the fuselage of new models listed in the Chinese foldable phone market showed a significant downward trend, and the median value decreased from 282g in 2020 to 204g in the first half of 2024, with a weight reduction of 28%, which was already lower than the weight of the iPhone 15 Pro Max.

Among the 10 new foldable models listed in the first half of 2024, only 2 models were higher than the weight of the iPhone 15 Pro Max, and the other 8 models were all below it.