Counterpoint Research predicts that by 2024, the Chinese market will account for over 50% of the global shipment of foldable smartphones.

Counterpoint Research stated that China is the largest and most important market for foldable smartphones globally, with an expected share of over 50% of global foldable smartphone shipments by 2024. The Chinese market has experienced rapid growth, but the growth rate is currently slowing down. Among them, larger foldable smartphones provide a wider range of usage scenarios and perform better than smaller foldable phones. Huawei's latest products, including the X6 and groundbreaking tri-fold phone, are expected to further drive shipment growth and solidify its leading market position. Trend 1: Slowing Growth Rate Since the birth of the foldable smartphone market in China, the market has experienced rapid growth, but the growth rate is currently slowing down. It is expected that the shipment volume of foldable smartphones in China will reach 9.1 million units by 2024, a year-on-year increase of 2%, which is sharply contrasting with the previous years' double-digit year-on-year growth rates. Innovative and more attractive usage scenarios will become crucial to attract more consumers and drive broader adoption. Trend 2: Larger Foldable Smartphones Outperform Small Foldable Smartphones In the foldable smartphone category, larger foldable smartphones outperform smaller ones, mainly due to providing a wider range of usage scenarios. Influenced by this trend, OPPO and vivo have successively stopped the production of small foldable smartphones this year. However, in contrast to the above trend, Xiaomi launched its first small foldable phone, Mix Flip, in July, which received a positive market response. Trend 3: Huawei Maintains Leading Position Huawei continues to maintain its leading position in the Chinese foldable smartphone market, accounting for about half of the total shipment volume. Huawei's latest products, including the X6 and the groundbreaking tri-fold phone, are expected to further drive shipment growth and consolidate its market position. This tri-fold phone takes a bold step forward in design and functionality, further expanding the possibilities of foldable screen technology. Despite the slowdown in growth in China's foldable smartphone market, it remains a bright spot in the saturated smartphone market.