China’s foldable smartphone shipment growth slows amid global dip in demand

Huawei remains the bestselling foldable smartphone vendor in China, accounting for around half of total domestic shipments

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Huawei Technologies launched its Mate XT, the world’s first trifold smartphone, in September. Photo: CFOTO/Future Publishing via Getty Images

Published: 9:00pm, 23 Dec 2024

China’s foldable smartphone shipments are seeing growth slow this year, according to Counterpoint Research, even as the country is poised to account for more than 50 per cent of the handset segment’s 2024 global shipments.

Foldable handset shipments in China, the world’s largest smartphone market, are expected to reach 9.1 million units this year, up 2 per cent from 2023, according to Counterpoint’s latest market report published on Friday.

That is in stark contrast with the triple-digit annual percentage growth rates recorded in previous years, including 103 per cent in 2023, 191 per cent in 2022 and 442 per cent in 2020.

China’s slower foldable handset shipment forecast reflects the recent worldwide dip in demand.

Global foldable handset shipments saw a 1 per cent year-on-year decline in the three months ended September after six consecutive quarters of growth, according to a Counterpoint report from November.

Samsung Electronics’ Galaxy Z Flip 6 smartphone is displayed 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, attributed mainly to Samsung Electronics’ “relatively underwhelming performance” with its Galaxy Z Flip 6 and Fold 6 models, the report said.