IDC: China's foldable phone shipments to reach 2.23 million units in Q3 2024

Market research firm IDC released the latest data report, in the third quarter of 2024, China's foldable screen mobile phone shipments reached 2.23 million units. Although it maintained year-on-year growth, the growth rate was significantly slower than the previous eight quarters. In the third quarter of this year, Huawei ranked first in China's foldable screen mobile phone market share, reaching 41.0%, achieving a fault-like lead.

IDC also mentioned that Huawei’s newly launched 30%-off products have opened up a new track.

In September this year, Huawei launched the Mate XT, the world's first tri-fold screen mobile phone, priced from 19,999 yuan.

When fully unfolded, the phone has a 10.2-inch screen, making it the world's largest foldable phone.

It is understood that before the release of Huawei Mate XT, more than 6.4 million people had made reservations to purchase it on Huawei's official website. After the sale went on, all models were sold out instantly and were in great demand.

In the third quarter, Honor ranked second in the foldable screen mobile phone market with a share of 21.9%, ranking second and third in the horizontal and vertical folding product markets respectively.

Relying on the success of its new product line Mix Flip, Xiaomi has entered the top three in the foldable screen mobile phone market for the first time since the second quarter of 2021.

With the launch of a new generation of products, Samsung's market share rose to 7.7%, ranking fourth.

The X Fold3 series helped vivo maintain its fifth place despite having only one foldable screen product line, and still ranked third in the horizontal folding product market.

IDC said that although foldable screen mobile phones have undergone five years of rapid development since their advent in 2019, their market penetration rate is still only 3.2% (the first three quarters of 2024).

The agency believes that foldable screen mobile phones lack more usage scenarios, and their product price and user experience have no absolute advantages compared to straight-screen products, making it difficult for foldable screen mobile phones to have a bigger breakthrough in the user population for the time being.

Zikuai Technology