China's foldable smartphone shipment rises 173 percent in Q2

The foldable smartphone market has seen remarkable growth in China, with shipments jumping 173 percent year on year to reach 1.26 million units in the second quarter of 2023, according to an industry report.

In the first half of the year, the country shipped 2.27 million foldable phones, marking a 102-percent surge from the same period last year, said the global market research firm International Data Corporation (IDC).

Huawei has maintained its top position in the domestic foldable smartphone market with a market share of 43 percent in the second quarter of the year, while Vivo climbed to second place, occupying a market share of 19.7 percent. Oppo secured a market share of 15.9 percent, ranking third in the second quarter, data from the IDC shows.

Since the introduction of foldable phones, the niche market has maintained rapid growth and is currently the only segment that continues to show an upward trend within the smartphone market as a whole, said the IDC.

With the gradual improvement of hinge and screen-related technologies, and the continued decrease in product prices, consumers are becoming increasingly receptive to foldable smartphones, IDC added.