Huawei Leads the Foldable Smartphone Market in China: Q4 2024 Insights
According to a recent report by IDC focusing on the foldable smartphone sector in China, Huawei has emerged as the frontrunner for the fourth quarter of 2024. The Shenzhen tech giant accounted for a staggering 48.6% of the total shipments, which amounted to 2.505 million units, while its closest competitor, Honor, secured a significantly lower market share of 20.6%.
Decline in Consumer Interest
Despite Huawei’s impressive figures, there is evidence suggesting that consumer enthusiasm for foldable devices may be dwindling. Shipments have seen nearly a 10% decline compared to the same timeframe last year.
Graph illustrating the shipment trends of foldable phones in China (blue) alongside year-over-year changes (yellow)
A Significant Shift in Market Dynamics
The last quarter marked a turning point as it represents the first recorded decrease in foldable smartphone shipments since IDC began monitoring this emerging segment nine quarters ago. Analysts from IDC noted that although manufacturers are releasing sleeker devices equipped with larger batteries and improved hinge technology to minimize visible creases, consumer interest remains tepid.
The Price Barrier
The premium pricing associated with these innovative smartphones continues to be a barrier; only early adopters appear willing to invest in this category. According to IDC’s findings, attracting this niche audience is becoming increasingly challenging for manufacturers who must up their game regarding technological innovation and value propositions.
Market share distribution among foldable smartphones during Q4 2024 based on company performance
Huawei’s Diverse Product Lineup
A significant factor contributing to Huawei’s dominance is its comprehensive range of foldable products when compared to competitors who offer models primarily targeting two popular designs. The lineup includes budget-friendly options like the nova Flip clamshell alongside more premium offerings such as the Pocket 2 model. Notably, Huawei introduced its Mate X6 at the end of November and holds exclusive rights over what can be called industry’s only tri-fold device –the Mate XT Ultimate.
Source: Via (in Chinese)