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from China foldable smartphone Shipments are experiencing slow growth this year, according to Counterpoint Research, although the country is poised to account for more than 50 percent of global shipments of the mobile phone segment by 2024.
Shipments of foldable mobile phones in China, the world’s largest smartphone market, are expected to reach 9.1 million units this year, up 2% from 2023, according to the latest Counterpoint market report published on Friday.
This is in sharp contrast to triple-digit annual percentage growth rates recorded in previous years, including 103% in 2023, 191% in 2022, and 442% in 2020.
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China’s slower folding phone shipment forecast reflects the recent global demand slump.
Global shipments of foldable cellphones saw a 1% year-over-year decline in the three months ended September after six consecutive quarters of growth, according to a November Counterpoint report.
Samsung Electronics’ Galaxy Z Flip 6 smartphone is shown at an event in Seoul, South Korea, on July 8, 2024. EPA-EFE photo alt=Samsung Electronics’ Galaxy Z Flip 6 smartphone is show at an event in Seoul, South Korea. on July 8, 2024. Photo EPA-EFE>
This marked the first third-quarter decline in the segment’s history, attributed primarily to Samsung Electronics“Relatively underwhelming performance” with its Galaxy Z Flip 6 and Fold 6 models, according to the report.
The global foldable smartphone segment has entered “a transition phase, where it faces challenges as it moves from a niche segment to the mainstream,” Counterpoint senior analyst Jene Park wrote in a separate report.
“If manufacturers are serious about improving affordability, as well as achieving greater technological reliability and improving consumer perceptions, this phase can be overcome.”
To attract more consumers and encourage wider adoption, “innovative and 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.”
Advertising for Huawei Technologies’ Mate XT triple smartphone is seen at a subway station in Shanghai. Photo: Shutterstock alt=A Shanghai subway station is seen advertising Huawei Technologies’ Mate XT triple smartphone. Photo: Shutterstock>
