China’s foldable smartphone market is currently seeing a slowdown in growth rates – Counterpoint Research

China’s foldable smartphone market is currently seeing a slowdown in growth rates – Counterpoint Research.

• After growing rapidly since its inception, China’s foldable smartphone market is currently seeing a slowdown in growth rates.
• Book-type foldables have outperformed clamshell-type foldables in China.
• Huawei maintains its leading position in China’s foldable market.

China, the world’s largest and most important foldable smartphone market, is expected to account for more than 50% of the world’s foldable shipments in 2024. It is necessary to understand the emerging trends in the Chinese market as they have a profound impact globally. Below are the key trends shaping the Chinese market this year:

Trend 1: Slowing Growth Rates

After growing rapidly since its inception, China’s foldable smartphone market is currently seeing a slowdown in growth rates. In 2024, foldable shipments in China are expected to reach 9.1 million units, posting a 2% YoY growth, which contrasts with the triple-digit YoY percentage growth observed in previous years. To attract more consumers and foster broader adoption, innovative and more compelling use cases will be essential.

Trend 2: Book-type Foldables Outperform Clamshell-type Foldables

Within the foldable smartphone category, book-type foldables have outperformed clamshell-type foldables, primarily due to the wider variety of use cases offered by book-type foldables. In response to this trend, OPPO and vivo have discontinued their clamshell phones this year. However, bucking the trend, Xiaomi introduced its first clamshell phone, the Mix Flip, in July, which the market received warmly.

Trend 3: Huawei’s Continued Leadership

Huawei maintains its leading position in China’s foldable market, accounting for about half of the total foldable shipments. Huawei’s latest offerings, including the X6 and the groundbreaking triple-fold phone, are poised to further propel its shipments and consolidate its market position. The triple-fold phone represents a bold step forward in design and functionality, pushing the boundaries of what is possible with foldable technology.

Despite the slowdown in China’s foldable smartphone market, the foldable market remains a bright spot in the saturated smartphone market.

Source: Counterpoint Research