Huawei has clinched the top position in China’s foldable phone market for the third quarter of 2024, according to a new report by market research firm IDC. The win comes on the heels of Huawei’s successful launch of the Mate XT (review), the world’s first tri-fold smartphone.
Huawei captured the top spot with a commanding 41.0% market share, a result likely fueled by the recent launch of its innovative Mate XT tri-fold phone. The device with three foldable displays in a Z-shaped configuration marks a new chapter for the company in the foldable phone arena.
“The launch of the world’s first tri-foldable phone is expected to further drive the foldable market development,” notes IDC in the report.
Samsung is at the fourth
Following Huawei is its former subsidiary, Honor, which secured a respectable 21.9% market share. Honor positioned itself as a strong competitor in both horizontal and clamshell foldable categories, grabbing second place in horizontal folding devices and third in clamshells.
Xiaomi also made a notable comeback, entering the top three foldable phone makers in China for the first time since Q2 2021. Their success can likely be attributed to the well-received new iteration of their Mix Fold device, which earned them a 17.2% market share.
Samsung, a major player in the global smartphone arena, holds a smaller share of the Chinese foldable market at just 7.7%. Vivo rounds out the top five with third place in the horizontal foldable category. While Oppo, Lenovo, and ZTE round out the remaining positions, their market share remains relatively low.
The overall picture shows that China’s foldable phone market shipped around 2.23 million units in Q3 2024, which is a growth compared to previous periods. However, the report also reveals a significant slowdown in the year-on-year growth rate compared to the past eight quarters.
This slowdown hints that the market may be approaching saturation for current foldable designs. IDC suggests that ongoing innovation and lower prices will be essential for sustained growth. To remain competitive with traditional smartphones, foldable devices need to offer an appealing user experience and price point.
(Via)
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