Strong Demand for Huawei Mate XT
As of Tuesday, Huawei’s website reported more than 3.6 million pre-orders for the Mate XT, even though no deposit was required. In comparison, the global foldable phone market sold around 4 million units in the second quarter, according to IDC. This new release follows a string of successful product launches, positioning Huawei as a significant player in the foldable market.
Huawei Mate XT: Consumer Reactions and Market Impact
In China, some consumers have been critical of Apple’s new iPhone model, particularly for its lack of AI capabilities. “What’s the point of buying it if you can’t use AI?” remarked a user on Weibo, a popular social platform. Another comment read, “Without AI as the biggest selling point, it should be half price.” Huawei’s technological advancements and local appeal have allowed it to outpace competitors like Samsung and Apple in the foldable market.
Challenges Ahead for Foldables
Despite the strong demand, analysts believe the Mate XT’s high price and limited availability may restrict its impact on the market. “The upcoming Huawei products are not expected to significantly impact Samsung and Apple’s businesses in terms of product quantity,” said Jene Park, an analyst at Counterpoint. “However, there may be some impact on sales in certain Chinese markets.”
Global Foldable Market on the Rise
The foldable smartphone market saw a 57% growth year-on-year in the second quarter, with 3.9 million units shipped, according to IDC. However, foldable phones still make up only 1.3% of the total smartphone market, with 292.2 million smartphones shipped during the same period. IDC’s Will Wong added that many consumers remain unfamiliar with the benefits of foldable phones, which continue to face challenges like durability and high costs.
Huawei’s Dominance in the Foldable Sector
Huawei led the global foldable market in the second quarter with a 27.5% market share, followed by Samsung at 16.4%. In China, Huawei’s market share increased to 42%, surpassing other domestic brands such as Vivo and Honor. This dominance, coupled with strong sales, has helped Huawei regain its position as the third-largest smartphone vendor in China, overtaking Apple, whose ranking dropped to sixth place in the second quarter.(Inputs from Reuters)
