In today's increasingly homogeneous smartphone market, folding screen mobile phones have become a clear stream in the smartphone market with their unique shape design and high-end market positioning. Especially in the Chinese market, Huawei and Honor occupy almost 70% of the foldable screen mobile phone market with their strong technical strength and brand influence, which not only reflects the huge potential of the folding screen mobile phone market, but also reveals the uniqueness of Huawei and Honor in technological innovation and market strategy.
Market status: Huawei and Honor's strong leadership
According to the latest market research report reported by CNMO Technology, in the third quarter of 2024, China's folding screen mobile phone market increased by 24% quarter-on-quarter, showing a strong growth momentum. In this market, the two major brands Huawei and Honor jointly occupy about 70% of the market share, with Huawei firmly at the top of the list with a market share of 44.7%, followed by Honor with a market share of 25.6%. This data not only highlights Huawei's leading position in the foldable screen mobile phone market, but also highlights the strong rise of the Honor brand in this field.
Figure: Display of folding screen mobile phones of various companies
Technology and innovation: the core competitiveness of Huawei and Honor
The success of Huawei and Honor in the foldable phone market is inseparable from their continuous investment in technological innovation. Huawei's Mate X series and Honor's Magic V series have both won widespread praise from consumers for their thin and light designs, powerful performance, and innovative user interfaces. In terms of hardware, these products use state-of-the-art processors, high refresh rate screens, and advanced hinge technology to ensure an excellent user experience and durability. In terms of software, Huawei and Honor have also been deeply optimized, providing better multitasking capabilities and user customization options, further improving the user experience.
Pricing strategy: The trend of proximity to the people is driving market adoption
With the continuous maturity of folding screen mobile phone technology and the reduction of production costs, brands such as Huawei and Honor have begun to adopt a more affordable price strategy. According to IDC data, the price of folding screen phones has begun to drop significantly in 2023, and the share of products above $1,000 has dropped from 81.0% a year ago to 66.5%. This price adjustment not only makes folding screen phones affordable for more consumers, but also drives further adoption and growth of the market.
User portraits: Young, high-end, and female users have become the main force
The user base of foldable phones is changing significantly. According to iResearch's report, the proportion of female users has increased by 9% compared to 2022, showing that the popularity of folding screen mobile phones among female consumers is increasing. At the same time, young people aged 18-29 and those aged 40 and above with stable economic incomes also account for a higher proportion. These user groups have a higher pursuit of fashionable design, unique experience and high-end performance, and folding screen phones meet their needs.
Future prospects: intensified competition, innovation-driven development
With the addition of more manufacturers and the launch of new products, the competition in the folding screen mobile phone market will become more intense. Huawei and Honor need to continue to invest more resources in product innovation to maintain their market leadership. This includes more advanced technology in hardware, deeper optimization in software, more innovation in user experience, etc. At the same time, with the further maturity of technology and the further reduction of costs, the price of folding screen mobile phones is expected to further decline and attract more consumers. In addition, the construction and optimization of the software ecosystem will also become an important factor affecting user experience and market acceptance.
Summary
Huawei and Honor's success in the foldable phone market is the result of technological innovation, affordable pricing strategies, and a deep understanding of consumer needs. In the future, with the further development of the market and the intensification of competition, product innovation and user experience will become the key for brands to remain competitive. Huawei and Honor need to continue to leverage their strengths in technological innovation and market strategy to continuously introduce new products that meet consumer needs to maintain their leading position in the foldable screen mobile phone market. At the same time, other brands also need to strengthen technological innovation and market research to stand out in the fierce market competition.
