IDC: Shipments in China's folding screen phone market are expected to increase by 52.4% year-on-year in 2024, about 10.68 million units
On September 10, Huawei's first three-folding screen phone, the Huawei Mate XT Extraordinary Master, was officially released.
According to reports, the Huawei Mate XT Extraordinary Master opened pre-orders on September 7 and will be fully sold at 10:08 on September 20. As of 19:45 on September 10, the Huawei Mall showed that the number of reservations had exceeded 4.35 million.
On the afternoon of the day of the press conference, in Nanshan District, Shenzhen, many users lined up at the Huawei flagship store to experience this three-folding screen phone.
With the release of three-folding screen phones, companies in the folding screen industry chain related to screens, hinges, and covers have received market attention.
Recently, many companies have updated their product production or technology research and development progress, and indicated that three-folding screen phones have brought new business growth and increased industry prosperity.
According to the latest quarterly mobile phone forecast report released by International Data, China's folding screen phone market is expected to ship about 10.68 million units in 2024, an increase of 52.4% year on year; by 2028, China's folding screen phone shipments will exceed 17 million units, with a five-year compound growth rate of 19.8%.
According to a research report released by Guotai Junan Securities, the major 24H1 folding machine companies have shown high performance growth, and companies have successively handed over excellent financial performance. The continuous release of performance has further verified the rapid development of the industry and has also driven the recovery of the overall smartphone market. The second half of the year was an intensive launch period for many terminal manufacturers. Currently, many smartphones and folding machines have been launched, and new products will continue to be launched in the future. Cathay Pacific Junan Securities expects the global and Chinese folding machine markets to maintain rapid growth in the second half of the year, and incremental value links in the related industry chain, such as hinges, UTG, and screens, are expected to continue to benefit.
Folding screen mobile phone related industry chain enterprises:
Lenovo Group (00992): Market research firm Techinsights released the 2024 Q1 global folding screen phone market report. Lenovo Motorola achieved rapid growth with its clamshell RAZR series products, reaching an astonishing 1260% year-on-year increase, and surpassed Samsung to become the number one sales volume in the US folding screen market.
Xiaomi Group-W (01810): Smartphones are nearing the new switching cycle, and thanks to the advancement of high-end and globalization, mobile phone shipments have returned to a stage of rapid growth. The company's global smartphone shipments also increased by 33.44% in 2024Q1; smartphone market shares in the Middle East, Africa, and Southeast Asia increased by 7.1%, 4.5%, and 4.4%, respectively. Xiaomi's first vertical folding phone, the MIX Flip, was released on July 19, 2024, and the price starts at 5,999 yuan.