Huawei leads the way, and sales of foldable screen mobile phones in China increased by 48% in 24Q1: of which "book-style" sales increased by 91%

According to news on May 28, the latest report released by market research agency Counterpoint Research shows that in the first quarter of 2024, against the backdrop of China’s mobile phone market sales increasing by only 2%, sales of foldable screen mobile phones increased by 48% year-on-year, continuing to maintain strong growth momentum.

Foldable smartphones have been a strategic focus for Chinese smartphone OEMs since the beginning of 2020. Many OEMs are banking on new form factors to revive the stagnant smartphone market and expand their penetration in the high-end market. Citing the agency’s chart, sales of “book-style” (left and right folding) screen devices increased by 91% in the first quarter of 2024, while sales of small folding (up and down folding) screen devices fell by 1% year-on-year, indicating that the “book-style” folding screen Equipment is more popular with consumers. Huawei has a strong presence in China's foldable device market and is one of the first OEMs to launch foldable products. In the first quarter of 2024, Huawei led sales of both book- and clamshell foldables, marking Huawei's recovery. Huawei’s market share growth is mainly due to the first launch of foldable products that support 5G, among which the “book style” Mate X5 and the small folding Pocket 2 became best-sellers upon launch. ReferenceChina’s Foldables Sell-through Up ~50% in Q1 2024 as Book-type Sales Nearly Double

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