Huawei dominates the Chinese foldable market in Q2 2024: Report

Huawei is gradually pacing in every subject, whether it’s smartphone, TV, or tablet. And the foldable category seems no exception to this theory. A new report shows that Huawei is highly dominating the Chinese foldable phone market in Q2 2024.

According to the CINNO research organization, Huawei has ranked first in the Q2 2024 Chinese foldable market. The company has scored the highest sales ranking among all its competitors. It pushed off rivals like OPPO, vivo, and Samsung in this race.

Inputs reveal that Huawei holds 35.2% shares in the sales ranking. This is the highest figure among all its opponents. The company didn’t make much progress compared to the last year but stepped forward by 1% YoY in the annual growth rate.

Perhaps Mate X5 is the main trophy holder in this segment. The satellite-based phone won consumers’ attraction and support for its fascinating features as well as capabilities. Pocket 2 has been another focal point for its beauty and iconic aspects.

Now Huawei has introduced the Nova Flip in the mid-range foldable line. It seems the tech giant will achieve more growth in Q3 2024. Apart from the Mate developer, the ranking shows other brands that contributed to the Chinese foldable market.

Q2 2024 Chinese foldable market report (Image Credits: ITHome)

Vivo is in second place with 31.9% shares in the sales ranking. The details say that the company owns the largest increase in the market share, thanks to the new X Fold 3 series. OPPO follows third with an 11.1% share. However, it has declined by 5% YoY due to a gap in the foldable phone launch cycle.

Honor ranked fourth with 10.4% shares while Samsung appears in the fifth spot with 5.7% shares in the sales ranking. The listing further highlights that the overall market has increased by 125 YoY with an 11% month-on-month increase.

The Chinese foldable market has maintained this success for four quarters straight. It shipped around 2.62 million units in the second quarter of this year. A major credit of these sales goes to the growing demand for AI features in folding handsets.

AI-powered foldable phones hold at least 42% of the market share in Q2 2024. Meanwhile, users are also looking forward to thin folding devices and more innovation. It would be worth seeing how the Chinese foldable market leads in Q3 2024.