Foldable phones surge in popularity amid stagnant market
(ECNS) -- With continuous technological advancements, shipments of foldable phones have seen consecutive growth against the odds of sluggish smartphone sales in China.
A report released in February by the International Data Corporation (IDC) showed that the shipment volume of foldable phones in China reached about 7 million units, a year-on-year increase of 114.5 percent.
On Feb. 22, Huawei unveiled its latest vertical foldable phone, the Pocket 2. According to market research firms, Huawei leads the foldable phone sector in terms of shipments.
Other Chinese smartphone manufacturers including OPPO, Vivo, and Honor have all entered the foldable phone arena. These manufacturers released about a dozen foldable models in 2023, marking an explosive phase in the industry.
The "2024 China Foldable Phone Consumer Insight Report" published by market consultancy iiMedia Research suggests that the purchase of foldable phones is gradually expanding, with noticeable growth trends among high-end and female users.
In 2023, the proportion of female users increased by 9 percent year-on-year, while the 18 to 29 age group, known for their enthusiasm for new trends, and the 40 and above age group with stable incomes, accounted for 30.6 percent and 43.1 percent, respectively.
Foldable phone technology is rapidly evolving, gradually shifting from being a niche gadget for enthusiasts in 2021 to becoming a choice for mass users, said Zhong Xinlong, director of the Artificial Intelligence Research Lab at the Future Industry Research Center of CCID Consulting.
Looking ahead, iiMedia Research predicts that the foldable phone market will maintain high-speed growth from 2024 to 2025.
Guo Tianxiang, senior analyst at IDC China, pointed out that foldable phones would remain a key focus for manufacturers in 2024.
The involvement of more manufacturers and the launch of more products will continue to drive rapid market development, Guo said.
Related articles
Minnesota Uber and Lyft driver pay package beats deadline to win approval in Legislature
ST. PAUL, Minn. (AP) — A plan to boost pay for Uber and Lyft drivers in Minnesota that lawmakers bel2024-05-21China's homegrown unmanned aircraft takes to sky
China's homegrown HH-100 unmanned aerial vehicle (UAV) completes its high-speed automatic taxiing te2024-05-21EU unveils 'remedy' for migrants
Migrants embark on a ferry in Lampedusa Island, Italy, on Sunday. About 11,000 irregular migrants ar2024-05-21Xi Meets Antigua and Barbuda's Prime Minister
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-05-21Company wins court ruling to continue development of Michigan factory serving EV industry
GREEN TOWNSHIP, Mich. (AP) — A judge has ordered a Michigan community to stop blocking efforts to br2024-05-21Mexico denounces Ecuador to ICJ for embassy raid
MEXICO CITY, April 11 (Xinhua) -- The Mexican government formally denounced Ecuador's government to2024-05-21
atest comment