According to Counterpoint Research, global shipments of foldable smartphones in the third quarter of 2024 decreased by 1% compared to the same period last year. This also ended the industry's consecutive growth for many quarters.
This is the first time in the history of the segment that it has seen a decline in the third quarter, mainly due to "unimpressive sales from Samsung", with the Galaxy Z Flip 6 and Fold 6 models, the report said.
Counterpoint senior analyst Jene Park believes the global foldable smartphone market is entering a “transitional phase.” Going forward, the segment will face many challenges as it moves from niche to mainstream.
"If manufacturers seriously consider optimizing prices to reach mass consumers, along with achieving technological reliability and raising user awareness, foldable smartphones can overcome the challenging period to develop strongly," said Jene Park. According to Counterpoint, to attract more consumers and promote the popularization of foldable smartphones, manufacturers need to have more creative and attractive approaches.
Huawei's tri-fold smartphone
Despite the slowing market, data shows that the foldable smartphone segment remains a bright spot in China’s saturated mobile market. Despite slowing growth in the overall smartphone market, foldable phones grew 2% year-on-year to an estimated 9.1 million units.
This figure is not very impressive compared to the growth rate of 103% in 2023 and 191% in 2022, 442% in 2020, but this is rare good news showing that the world's largest smartphone market can be a "lifebuoy" to help foldable phones overcome the challenging period.
According to SCMP , China aims to capture 50% of the global smartphone market share by 2024. Therefore, any small fluctuations in this country will directly affect the entire industry. The forecast of slowing growth in foldable smartphone sales in China also means that global user demand is showing signs of cooling.
Counterpoint statistics show that Huawei remains the top-selling foldable smartphone maker in China, accounting for about half of domestic shipments. Despite the increasingly stringent US sanctions, Huawei launched the world's first tri-folding smartphone, the Mate XT, in October and the dual-folding Mate X6 in November.
Experts predict that these two models will solidify Huawei's leadership in the segment. According to data from research firm CINNO, Huawei's total foldable smartphone shipments in the third quarter of 2024 could reach 1.12 million units, up 97% year-on-year. In the third quarter, Huawei accounted for 85% of high-end foldable phones (priced above 10,000 yuan, equivalent to 34.8 million VND).
Source: https://thanhnien.vn/thi-truong-trung-quoc-co-cuu-duoc-smartphone-gap-185241226112242711.htm
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