According to Counterpoint Research, foldable smartphone growth in China is slow this year, with the country poised to account for more than 50 percent of global handset segment shipments by 2024.
The number of foldable mobile phones in China, the world’s largest smartphone market, is expected to reach 9.1 million units this year, up 2 percent from 2023, according to Counterpoint’s latest market report published Friday.
That’s in stark contrast to the triple-digit annual growth rates recorded in previous years, including 103 percent in 2023, 191 percent in 2022 and 442 percent in 2020.
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The expected slower shipment of foldable mobile phones in China reflects the recent global demand decline.
According to a November Counterpoint report, global shipments of foldable phones fell 1 percent year-on-year in the three months ended September, after six straight quarters of growth.
Samsung Electronics’ Galaxy Z Flip 6 smartphone is shown at an event in Seoul, South Korea, on July 8, 2024. Photo EPA-EFE alt=Samsung Electronics’ Galaxy Z Flip 6 smartphone is shown at an event in Seoul , South Korea, on July 8, 2024. Photo EPA-EFE>
That marked the first-ever third-quarter decline in the segment’s history, mainly attributed to Samsung Electronics’ “relatively disappointing performance” with its Galaxy Z Flip 6 and Fold 6 models, the report said.
The global foldable smartphone segment has “entered a transition phase, facing challenges as it evolves from a niche segment to the mainstream,” Counterpoint senior analyst Jene Park wrote in a separate report.
“If manufacturers seriously consider improving price accessibility, along with achieving further technological reliability and improving consumer perception, this phase can be overcome.”
To attract more consumers and drive broader adoption, “innovative and more compelling use cases will be essential,” Friday’s Counterpoint report said. Despite the slowdown, Counterpoint indicated that China’s foldable mobile phone segment “remains a bright spot in the country’s saturated smartphone market.”
Advertisement for Huawei Technologies’ Mate XT tri-fold smartphone is seen at a subway station in Shanghai. Photo: Shutterstock alt=Advertisement for Huawei Technologies’ tri-fold Mate XT smartphone is seen in a Shanghai subway station. Photo: Shutterstock>
