China’s foldable smartphone market has experienced remarkable growth in the second quarter of 2024, according to IDC. The market expanded by 104% from the previous year, with Huawei emerging as the dominant player.
Huawei captured the top position with an impressive 41.7% market share, driven by the success of its Mate X5 and Pocket 2 models. The Mate X5, which was launched last year, remains highly sought after, while the newly introduced Pocket 2 has also garnered significant interest. These models cater to various segments, solidifying Huawei's leadership.
Vivo's Competitive Edge
Vivo ranked second, holding a 23.1% market share. The X Fold 3 and X Fold 3 Pro, which feature advanced hinge technology, a lighter design, and excellent cameras, have propelled Vivo’s growth. Moreover, Vivo’s strategy of offering a more budget-friendly “vanilla” model in its foldable lineup has also played a role in its success.
Honor's Strong Performance
Honor secured a 20.9% market share. The company introduced its new foldable phones—the Magic V Flip, Magic Vs3, and Magic V3—later in the quarter, so these figures aren't reflected in the IDC report. However, these new models are expected to enhance Honor's performance in the latter half of the year.
Meanwhile, Xiaomi is striving to catch up. Its newly launched Mix Fold 4 and Mix Flip were not included in the second quarter data, but they may increase Xiaomi's market share in the upcoming months.
Oppo, without any new foldable releases, maintained an 8.4% share mainly by clearing out existing inventory. Samsung, on the other hand, held a mere 1.4% of the market.
The foldable smartphone market in China is rapidly evolving. While Huawei currently leads, the influx of competitors and new product launches indicates growing interest in this sector. Future growth will hinge on how well manufacturers can tackle issues like pricing, durability, and user experience.
