Growth in foldable smartphone shipments in China is slowing amid declining global demand

China Foldable smartphone Shipments are seeing slow growth this year, according to Counterpoint Research, even as the country is poised to account for more than 50 percent of global phone shipments for 2024.

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

This is 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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Expectations for slower foldable phone shipments in China reflect the recent global decline in demand.

Global shipments of foldable phones saw a 1 percent year-on-year decline in the three months ending in September after six consecutive quarters of growth, according to a Counterpoint report released in November.

The Galaxy Z Flip 6 smartphone from Samsung Electronics is displayed at an event in Seoul, South Korea, on July 8, 2024. Photo EPA-EFE alt=The Galaxy Z Flip 6 smartphone from Samsung Electronics is displayed at an event in Seoul, South Korea , on July 8, 2024. Image EPA-EFE>

This represents the first ever third-quarter decline in the sector’s history, primarily due to… Samsung Electronics“Relatively underwhelming performance” with the Galaxy Z Flip 6 and Fold 6 models, the report said.

The global foldable smartphone sector has entered a “transition phase, facing challenges as it progresses from niche to mainstream,” Jin Park, senior analyst at Counterpoint, wrote in a separate report.

“If manufacturers seriously look at improving price accessibility, along with achieving greater technological reliability and enhancing consumer perceptions, this phase can be overcome.”

To attract more consumers and foster broader adoption, “more compelling and innovative use cases will be essential,” Counterpoint’s report said Friday. Despite the slowdown, Counterpoint noted that China’s foldable phone sector “remains a bright spot in the country’s saturated smartphone market.”

An advertisement for Huawei Technologies’ Mate XT tri-fold smartphone is seen at a subway station in Shanghai. Image: Shutterstock alt=An advertisement for Huawei Technologies’ Mate XT tri-fold smartphone in a subway station in Shanghai. Image: Shutterstock>

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