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.
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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 alt=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.
The global foldable smartphone segment has entered “a transitionary phase, where it is facing challenges as it progresses from a niche segment to the mainstream”, Counterpoint senior analyst Jene Park wrote in a separate report.
“If manufacturers give serious consideration to improving price accessibility, along with achieving further technological reliability and enhancing consumer perceptions, this phase can be overcome.”
To attract more consumers and foster 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 handset segment “remains a bright spot in the country’s saturated smartphone market”.
Advertising for Huawei Technologies’ Mate XT trifold smartphone is seen at a subway station in Shanghai. Photo: Shutterstock alt=Advertising for Huawei Technologies’ Mate XT trifold smartphone is seen at a subway station in Shanghai. Photo: Shutterstock>