CINNO Research: Q3 Chinese foldable screen sales increase by 79% year-on-year, Huawei continues to lead the market share in the horizontal foldable screen market for the fifth consecutive year.

According to CINNO Research data, in the third quarter of 2024, the sales of foldable screen smartphones in the Chinese market reached 3.54 million units, an increase of 79% year-on-year and 35% month-on-month, achieving double growth in both year-on-year and month-on-month; the cumulative sales for the first three quarters (Q1-Q3'24) reached 8.52 million units, a year-on-year increase of 101%, achieving a doubling, with a market penetration rate rising to 4.1%, an increase of 1.9 percentage points from the same period last year, nearly doubling the penetration rate, demonstrating a steady upward trend in market penetration rate. In the foldable smartphone market with a price above ten thousand yuan, Huawei's market share is as high as 85%. Of particular note, in the high-end foldable screen smartphone market with a price above ten thousand yuan, Huawei's market share in Q3'24 reached 85%. This data not only reflects Huawei's profound accumulation in the foldable screen smartphone field, but also demonstrates the high recognition and market influence of its products among high-end user groups. Huawei has been the champion of the Chinese landscape foldable smartphone market share for five consecutive years. All major mainstream smartphone brands are actively laying out the foldable screen smartphone market. In terms of market share, in the third quarter of 2024, Huawei's foldable smartphone sales reached about 1.12 million units, an increase of 97% year-on-year. The market share of Huawei's foldable smartphones in China increased by 2.9 percentage points year-on-year, defending the position of No. 1 in the domestic foldable phone market sales. This remarkable performance is mainly due to its new product Mate X5 launched in September last year, which has been the champion of single-quarter sales of domestic foldable screen smartphones for four consecutive quarters since its launch, becoming a star product in the market. Huawei has been the champion of the Chinese landscape foldable smartphone market share for five consecutive years. The penetration rate of AI technology in the Chinese foldable smartphone market is rapidly rising. In the third quarter of 2024, the penetration rate of AI technology in the Chinese foldable smartphone market reached 57%, a significant increase of 52 percentage points year-on-year and 15 percentage points month-on-month. Many new foldable phones launched this year are equipped with AI technology, making foldable screen smartphones more intelligent, efficient, and personalized, greatly enriching the user experience and potentially becoming a standard feature of foldable phones. The Chinese foldable smartphone market in 2024 is showing a booming development trend, with innovation in the market never ceasing and continuously moving forward. Among them, the world's first commercially available three-fold screen smartphone, Huawei Mate XT extraordinary master product, has been born, greatly expanding people's cognitive boundaries of foldable screen products. Chinese smartphone manufacturers represented by Huawei have pushed the design, performance, and user experience of foldable screen smartphones to new heights, bringing consumers unprecedented visual experiences.