Mate X5 leads Huawei to spot first place in Q4 2023 Chinese foldable market: IDC

Huawei Mate X5 is an excellent foldable to date and played a prominent role in driving the company to the top spot in the Q4 2023 Chinese folding phone market. That says a new report highlighting the growth of Fold gadgets in the native region.

International Data Corporation (IDC) has shared the latest report based on the Q4 2023 Chinese foldable market and mentions that Huawei has firmly occupied the first position – thanks to the excessive demand for the Mate X5 foldable handset.

According to the report, Huawei has secured 37.4% of the China folding phone market. A big credit for this achievement goes to the booming sale of the Mate X5 foldable. Consumers have shown extreme love for the device despite the price hike.

Eventually, the Chinese tech giant surpassed some top tech vendors like Samsung, OPPO, and Vivo with its amazing folding gadgets. As per the details, OPPO falls in second place with 18.3% in the overall folding phone category while standing first in the vertical foldable list with 36.3%.

Next is Honor with a share of 17.7% for the hot sale of Magic V2 folding smartphone. Currently, the company is working on its first-ever Magic Flip device with impressive features and characteristics, to compete with new flip-flop models.

Even though Samsung is well-known for being a foldable beast, it had the fourth position with 11% of the market share. The reason is the highly competitive Chinese market. Finally, Vivo gained the fifth place in this ranking.

Chinese Foldable Market: Growth

IDC report notes that the Chinese foldable market shipment went to 2.771 million units in Q4 2023, which is an increment of 149.6% YoY. The region has grown by more than 100% YoY for straight four years.

On the other hand, the book-type format foldable devices are more in demand, compared to the vertical folding handsets. Though flip-flop models are wearing low-price tags, consumers are more fond of horizontal folding phones for large screens.

IDC senior analyst – Guo Tianxiang believes that thinness and lightness are the primary aspects of a foldable model. Meanwhile, more tech makers’ participation will encourage the growth of the folding phone market.

(Source)