Huawei became the leader of the Chinese folding phone market with the three-hinged Mate XT

According to a recent report by market research firm IDC, Huawei has topped China’s foldable phone market in the third quarter of 2024 with the innovative release of the Mate XT, the world’s first tri-folding smartphone. This company has achieved a remarkable success by gaining 41% of the market share.

According to Tekna technology media mobile news service, Mate XT has created a revolution in the smartphone industry with its unique design that includes three folding screens in a Z-shaped configuration. IDC believes that the launch of this product will further strengthen the growth of the foldable phone market.

Huawei took the lead with (41%) of the market share with the Mate XT. Honor is still a strong competitor with a share (21.9%) as a former subsidiary of Huawei. Xiaomi also joined the top three manufacturers with a share (17.2%) with the new generation of Mix Fold. Samsung also has a smaller share of the global market with a percentage (7.7%). China’s foldable phone market has shipped about 2.23 million units in the third quarter of 2024, which indicates the growth of this market. However, the annual growth rate has decreased compared to previous periods, indicating that the market may be approaching the saturation of current foldable designs. IDC believes that continuous innovation and lower prices are essential for sustainable growth.

With the release of Mate XT, Huawei has revolutionized the Chinese folding phone market. However, to maintain this position and grow the market further, companies need to innovate more and provide a better user experience. To see the latest news, refer to Tekna media technology news page.