China’s foldable smartphone sales surged 391% on year in Q1, remarkable growth expected for 2022 – research
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China’s foldable smartphone sales surged 391% on year in Q1, remarkable growth expected for 2022 – research
STOCKS

China’s foldable smartphone sales surged 391% on year in Q1, remarkable growth expected for 2022 – research

 

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China’s foldable smartphone market is expected to see remarkable growth in 2022, which will also contribute to the overall growth of the global foldable market in 2022, according to a report by Counterpoint Research.

China’s foldable smartphone sales reached about 670,000 units in the first quarter of the year, surging 391% from the same period last year and rising 152% from the previous quarter, according to the report.

Due to strong momentum in April and May, full-year sales of foldable smartphones in 2022 are expected to surge 225% on year to 2.7 million units, it said.

Chinese customers prefer foldable phones from domestic brands, according to the report. The sales volume for the Chinese foldable market for January-May 2022 reveals that Huawei has been dominating the foldable sales in the country, accounting for 50% of total sales. It’s followed by Samsung with 20% share, whereas OPPO and Xiaomi stand in third and fourth places, respectively.