Counterpoint: China will account for more than 50% of global foldable smartphone shipments in 2024

China is the world’s largest and most important foldable smartphone market, and is expected to account for more than 50% of global foldable smartphone shipments in 2024. It is necessary to understand emerging trends in the Chinese market because they have far-reaching impacts around the world.

Trend 1: Slowing growth

China's foldable smartphone market has been growing rapidly since its inception, but the current growth rate is slowing down. In 2024, China's foldable phone shipments are expected to reach 9.1 million units, a year-on-year increase of 2%, in stark contrast to the triple-digit year-on-year growth in previous years. In order to attract more consumers and promote wider adoption, innovation and more compelling use cases will be essential.

Trend 2: Book-type foldable phones are better than flip phones

In the foldable smartphone category, book-style foldable phones outperformed flip-style foldable phones, mainly because book-style foldable phones offer a wider range of use cases. In response to this trend, OPPO and vivo have discontinued flip phones this year. However, Xiaomi bucked the trend and launched its first flip phone, Mix Flip, in July, which received a warm response from the market.

Trend 3: Huawei continues to maintain its leadership

Huawei maintains its leading position in the Chinese foldable phone market, accounting for about half of all foldable phone shipments. Huawei's latest products, including the X6 and the groundbreaking triple-screen phone, will further boost its shipments and consolidate its market position. The tri-fold phone is a bold step forward in both design and functionality, pushing the limits of foldable technology.

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