According to a new report by research firm IDC, Huawei took the lead in the Chinese foldable phone market in the third quarter of 2024. This victory follows a successful launch Huawei Mate XTThe world’s first trifoldable smartphone.

Huawei came out on top with a market share of 41.0%, likely driven by the recent launch of its innovative Mate XT triple folding phone. Featuring three foldable displays in a Z-shaped configuration, the device marks a new page for the company in the field of foldable phones.

“The launch of the world’s first triple foldable phone is expected to drive further growth in the foldable phone market,” IDC said in its report.

Samsung is in fourth place

Huawei is followed by its former subsidiary Honor, which achieved a respectable 21.9% market share. Honor is positioning itself as a strong competitor in both the horizontal and foldable categories; It ranks second among horizontal foldables and third among foldables.

Xiaomi also made a remarkable comeback, ranking in the top three among foldable phone manufacturers in China for the first time since the second quarter of 2021. Their success can probably be attributed to the well-received new version of their Mix Fold device, which earned them 17.2% of the market. fraction.

Samsung, a major player in the global smartphone arena, has a smaller share of China’s advanced device market at just 7.7%. Vivo completed the top five by placing third in the horizontally foldable devices category. Although Oppo, Lenovo and ZTE complete the remaining positions, their market shares remain relatively low.

The overall picture shows that the Chinese foldable phone market shipped approximately 2.23 million units in the third quarter of 2024; This is an increase compared to previous periods. However, the report also shows a significant slowdown in annual growth compared to the past eight quarters.

This slowdown indicates that the market may be approaching saturation in terms of existing complex designs. IDC suggests that continuous innovation and price reductions are essential for sustainable growth. To compete with traditional smartphones, advanced devices must offer an attractive user experience and price point.