The global foldable phone market is heating up as Huawei and Xiaomi unveil new products this week, ahead of Apple's anticipated entry with its first foldable iPhone.
On September 7, Huawei kicked off the announcements with a product launch event at 2:30 PM local time in Guangzhou, China. According to Chinese media outlet Jike, Huawei introduced its latest high-end tri-fold flagship smartphone, the 'Mate XT 2.' This device is a successor to the Mate XT, the world's first tri-fold smartphone released two years ago, and features the new Kirin 9050 Pro chip, which incorporates Huawei's recently developed semiconductor design philosophy known as 'Tau.'
Later that evening, Xiaomi revealed its flagship foldable phone, the 'Xiaomi 18 Fold.' This model is equipped with memory from Chinese semiconductor company Changxin Memory Technology (CXMT) and utilizes Xiaomi's own Xring O3 processor. It adopts a 'passport-style' design with a 4:3 aspect ratio, which is wider than previous foldable phones. This design was first introduced by Samsung in its Fold 8 and is expected to be featured in Apple's upcoming foldable iPhone.
Apple is set to hold its product launch event on September 9 at 10 AM local time in the United States, where it will unveil its first foldable iPhone.
Chinese media outlet Jinlongjie analyzed that Huawei and Xiaomi's decision to launch their products ahead of Apple indicates a direct challenge to the tech giant. This reflects the confidence of Chinese companies in their own technology, product innovation, and competitive pricing in the premium segment, contrasting with their previous strategy of avoiding product launches during Apple's announcements.
All three companies are targeting the premium market segment, with their new foldable phones priced above 10,000 yuan (approximately $2,100), leading to significant overlap in consumer demographics and product positioning. As a result, a direct competition among the three is anticipated.
Particularly, as Chinese smartphone manufacturers, which typically focus on lower-cost products, face rising component prices, including memory, they are actively pursuing premium products like foldable phones to increase their average selling prices (ASP).
Bloomberg noted that the recent product launches by Huawei and Xiaomi demonstrate that Apple's entry into the foldable market poses both a threat and an opportunity for these Chinese companies, as Apple's foldable iPhone could heighten consumer interest in foldable devices.
Market analysts predict that foldable phones will remain a key growth driver in the global smartphone market for the foreseeable future. Despite a general slowdown in the global smartphone market, foldable phones are showing relatively strong growth. Research firm Counterpoint Research forecasts that global shipments of foldable smartphones will increase by 21% this year compared to last year.
There are also expectations that Apple will dominate the foldable phone market. Ivan Lam, an analyst at Counterpoint Research, told Bloomberg, 'Apple has the largest premium device user base in the world,' adding that 'Apple's foldable phone is likely to achieve high sales and quickly capture market share.' He anticipates that the launch of Apple's foldable phone will expand consumer adoption of foldable devices and increase demand for competing products.
Market research firm Smart Analytics Global predicts that Apple could capture about a quarter of the global foldable phone market this year, with a projected 41% market share next year, positioning it as the leader in the segment.
* This article has been translated by AI.
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