Prices keep dropping! Folding screens are becoming more and more popular: sales surge

In the first quarter of 2024, China’s foldable screen mobile phone market showed strong growth momentum, with brands such as Huawei and Honor occupying a significant share of the market. According to statistics from the International Data Corporation (IDC), China's foldable screen mobile phone shipments reached 1.86 million units in the first quarter of 2024, a year-on-year increase of 83%.

This data reflects the rapid growth trend of folding screen mobile phones in the Chinese market. In the overall smartphone market, foldable screen phones account for approximately 2.7%. In addition, Huawei ranks first with a 44.1% share of China's foldable screen mobile phone market, followed by Honor with a market share of 26.7%.

From a broader perspective, IDC predicts that the shipment volume of China’s folding screen mobile phone market will be close to 10 million units in 2024, a year-on-year increase of 53.2%, and by 2027 The annual compound growth rate will reach 37.5%. This shows that the foldable screen mobile phone market will continue to grow in the next few years.

Folding screen mobile phones have become the darling of the high-end market due to their high-end positioning and technological innovation. Huawei has performed well in promoting the development of the industry towards thin, light and versatile products, and its share of the ultra-high-end folding screen market is as high as 65.6%.

In addition, the price of foldable screen mobile phones has gradually become more "down-to-earth", with a year-on-year growth rate of more than 100% for four consecutive years, showing its trend of becoming more affordable. At the same time, foldable screen mobile phones, as a popular product in the high-end market, are expected to continue to maintain a growth trend in the next few years.

The folding screen mobile phone market is in a stage of rapid growth, benefiting from technological advancement, cost reduction, changes in consumer demand, and fierce brand competition.

As the cost of key components such as hinge technology and screens declines, the price of foldable screen mobile phones is expected to drop further, making these products affordable for more consumers. In addition, the technology of foldable screen mobile phones is becoming increasingly mature, attracting consumers who pursue performance and personality.

At the same time, cost reduction is also an important factor in promoting the growth of the folding screen mobile phone market. With the expansion of production scale and technological advancement, the manufacturing cost of foldable screen mobile phones is gradually decreasing, which helps to drive down prices and attract more consumers.

Changes in consumer demand have also had a positive impact on the folding screen mobile phone market. More and more consumers are paying attention to foldable screen mobile phones, partly because they provide comprehensive functions and stylish appearance, meeting users' needs for a large-screen immersive experience and portable operation.

Major brands such as Huawei, Honor, vivo, and OPPO are actively launching new folding screen mobile phone products to meet market demand and compete for market share. The competition among these brands not only promotes technological innovation, but also promotes the rapid development of the market. It is expected that foldable screen mobile phones will continue to maintain rapid growth in the next few years.

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