Core Insights - The Chinese foldable smartphone market is experiencing a significant recovery, with Q3 2025 shipments reaching 2.63 million units, representing a year-on-year growth of 17.8% [1] - Cumulatively, the foldable smartphone market in China saw shipments of 7.62 million units in the first three quarters of 2025, marking a year-on-year increase of 14.3% [1] - IDC forecasts that the foldable smartphone market in China will approach 10 million units in 2025, continuing its growth trend [1] Brand Performance - Huawei maintains a dominant position in the market with nearly 70% market share, showcasing its absolute leadership [1] - Honor ranks second in the industry with an 11.2% market share, driven by the performance of its new products, Magic V5 and Magic V Flip series [1] - The third to fifth positions in the market are held by vivo, OPPO, and Samsung, respectively [1]

Core Insights - The Chinese foldable smartphone market is experiencing a significant recovery, with Q3 2025 shipments reaching 2.63 million units, a year-on-year increase of 17.8% [1] - The total shipments for the first three quarters of 2025 reached 7.62 million units, reflecting a 14.3% year-on-year growth, with expectations to approach 10 million units by the end of the year [1] - Key advancements in technology have addressed traditional pain points such as weight and thickness, leading to improved product experiences and a shift towards mainstream adoption [1][5] Company Performance - Huawei continues to dominate the foldable smartphone market with nearly 70% market share, having surpassed 15 million cumulative shipments [3] - Honor ranks second with an 11.2% market share, driven by the success of its Magic V5 and Magic V Flip series [3] - Vivo holds a 5.0% market share, focusing on competitive pricing and enhancing interoperability with the iOS ecosystem [3] - OPPO, with its Find N5 series, and Samsung, through its Galaxy Z Fold7 series, are also making strides in the market, with Samsung returning to the top five [3] Industry Trends - The foldable smartphone market is transitioning from niche to mainstream, driven by technological advancements and improved user experiences [5] - Innovations in design and functionality, such as three-fold and wide-fold models, are helping to differentiate products in a previously homogeneous market [5] - The industry is expected to shift from competition based on existing products to innovation-driven competition, with foldable smartphones becoming a key segment in the high-end market [5]

Core Insights - The Chinese foldable smartphone market is experiencing a significant recovery, with a projected shipment volume of 2.63 million units in Q3 2025, representing a year-on-year growth of 17.8% [1] - Cumulatively, the shipment volume for the first three quarters of 2023 reached 7.62 million units, showing a year-on-year increase of 14.3% [1] - IDC forecasts that the total shipment volume for the Chinese foldable smartphone market will approach 10 million units in 2025, continuing its growth trend [1] Market Competition Landscape - Huawei maintains a leading position with nearly 70% market share, having shipped over 15 million foldable devices [1] - Honor ranks second with an 11.2% market share, driven by the performance of its Magic V5 and Magic V Flip series [1] - Vivo holds the third position with a 5.0% market share, focusing on price competitiveness and expanding interoperability with the iOS ecosystem through its X Fold5 series [1] - OPPO, with its Find N5 series leveraging flagship chip advantages, ranks fourth by a narrow margin [1] - Samsung re-enters the top five with its Galaxy Z Fold7 series, emphasizing advancements in lightweight design [1]

Core Insights - Honor is transitioning from a smartphone manufacturer to a leading global AI terminal ecosystem company, showcasing its AI ecosystem layout at the first global developer conference in Shenzhen [1] Group 1: AI Ecosystem Strategy - Honor introduced the "1×3×N" ecological strategy to address the fragmentation of the AI terminal ecosystem, which includes the HONOR AI Connect platform, three empowerment models, and coverage across multiple industry clusters [2] - The HONOR AI Connect platform has successfully connected over 30 million ecological devices, establishing a solid foundation for connectivity [2] Group 2: AI Scene Solutions - Eight AI scene-based ecological solutions were launched to tackle fragmented user experiences and enhance interoperability, covering areas such as smart home, smart vehicle, health, education, and business [3] - Honor aims to create a seamless experience by integrating home, vehicle, and mobile interactions, recently partnering with BYD to develop an AI-driven smart travel ecosystem [3] Group 3: Collaboration and Innovation - Honor's chairman emphasized the synergy between policy, technology, and market forces in Shenzhen, which accelerates the evolution of terminal intelligence [4] - The company is establishing a robust industrial foundation in Shenzhen, with significant manufacturing and supply chain partnerships to support its AI terminal ecosystem [4]

Core Insights - The European smartphone market is recovering in Q2 2025 with a year-on-year shipment increase of 4% after a sluggish first quarter [1] - Despite economic and geopolitical challenges, as well as new EU regulatory pressures, manufacturers' innovative products and promotional strategies have effectively mitigated downside risks [1] Company Highlights - Honor has emerged as the standout performer, with a remarkable year-on-year shipment increase of 42%, leading the growth among the top five manufacturers and securing a position in the top four in Europe [1] - Honor's growth is attributed to its foldable screen strategy and technological innovations, with the Magic V series laying a solid foundation [1] - The new Magic V5 model has gained popularity due to its lightweight design and edge AI features [1]

Core Insights - Apple's 2025 fall product launch highlighted the iPhone 17 series battery upgrades and the introduction of iPhone Air, focusing on "lightweight design," "battery life breakthroughs," and "foldable screen layout" as key industry themes [1] - As a leading brand influencing industry trends, Apple's product moves have garnered significant market attention, with some Chinese manufacturers already validating differentiated technological solutions in these key areas [1] Battery Life Solutions - The core contradiction in smartphone technology iteration is "improving battery life without sacrificing lightweight design." Apple's approach involves equipping the iPhone 17 Pro with the largest battery capacity to date, aiming to enhance battery life through hardware upgrades, yet balancing a large battery with a lightweight design remains a common industry challenge [2] - Chinese manufacturers are exploring differentiated paths, such as Honor's Magic V5 foldable screen featuring a 6100mAh battery, which is the industry's first mass-produced high-silicon battery at 25%, achieving breakthroughs in both lightweight design and battery life through "material innovation + structural optimization" [2] Foldable Screen Development - Foldable screens represent a significant direction for mobile form factor innovation, but challenges such as hinge reliability, weight control, and cost reduction have led to cautious industry advancement. The iPhone Air is seen as a technical groundwork for a foldable iPhone in 2026, reflecting the leading brand's steady layout in this new arena [3] - Some Chinese manufacturers have entered the "landing phase" of foldable screen technology, with Honor's Magic V5 achieving a foldable thickness of 8.8mm and a weight of 217g, setting a new lightweight standard for foldable flagships. This is supported by advanced technologies like the Luban shock-absorbing hinge and aerospace-grade carbon fiber lining, creating a "light as paper, strong as steel" feel [3] - The progress in the smartphone industry is not reliant on a single brand but rather a "symbiotic effect" of diverse explorations. As technology becomes more widespread, consumers will benefit from improved experiences across various price points and form factors, with a healthy ecosystem of diverse technological exploration being the core driver of innovation in the industry [3]

Core Insights - Honor launched its latest foldable smartphone, Magic V5, in the European market, aiming to challenge Samsung's dominance in the high-end segment [1] - Samsung's market share in the European foldable smartphone market has decreased from 98% in 2022 to 73% by the end of 2023 due to increased competition from Honor and other manufacturers [1] - Honor is projected to be the fastest-growing brand in the European foldable smartphone market in 2024, with a year-on-year sales increase of 377% and a market share growth to 34% [1] Group 1: Market Dynamics - The European foldable smartphone market is undergoing a reshuffle, with major players like Samsung, Google, and Honor intensifying their efforts [2] - Honor's competitive edge lies in its lightweight design and innovative AI capabilities, which are seen as key factors for its market penetration [2] - Samsung's Galaxy Fold series has faced challenges in making significant improvements, impacting its future outlook [2] Group 2: Technological Advancements - Honor's Magic V5 will feature the world's first on-device voice large model, enabling offline real-time translation for international communication [2] - The technology behind this feature is supported by original algorithms and hardware optimizations, which have gained recognition in the academic community [2] Group 3: Global Expansion - Honor has become the fastest-growing smartphone brand in the UK, with a sales increase of over 70% last year and a 234% rise in high-end product sales in the first half of this year [3] - In Southeast Asia, Honor's smartphone shipments are expected to grow by 121% year-on-year by Q2 2025, surpassing 1 million units in a single quarter [3] - The global foldable smartphone market is entering a rapid expansion phase, with expectations of continued growth as Apple enters the market in 2026 [3] Group 4: Competitive Landscape - The competition in the high-end foldable smartphone market is expected to remain dynamic, with product innovation, AI application, and channel ecosystem playing crucial roles in shaping the market [3]

Product Assessment - Honor Magic V5 has a nice build and a good camera [1] - The camera bump of Honor Magic V5 is a bit of a menace [1]

Core Insights - The European foldable smartphone market is experiencing significant growth, with a year-on-year increase of 37% in 2024, despite currently holding only about 2% of the total smartphone sales in the region [1] - Samsung, which previously dominated the market with a 98% share in 2022, has seen its market share decline to 73% by the end of 2023 due to increased competition from brands like Honor, Google, and OnePlus [1] - Honor's Magic V2 and the upcoming Magic V3 have led to a remarkable 377% increase in sales for Honor, capturing a 34% market share in the book-style foldable segment, making it the fastest-growing player in the market [1] Company Developments - Samsung is set to launch the Galaxy Z Fold7 in July 2025, which is touted as the thinnest, lightest, and most powerful foldable smartphone to date, with a thickness of only 4.2mm and a weight of 215g [2] - Honor is expected to release the Magic V5 on August 28, 2024, which will feature a thickness of 4.1mm, potentially reclaiming the title of the thinnest foldable smartphone, along with enhancements in battery capacity and durability [2] Market Outlook - Apple is anticipated to enter the foldable smartphone market in 2026, which is expected to accelerate the adoption of foldable devices in high-end markets like the UK and Germany [2] - Counterpoint Research predicts that by 2028, annual sales of book-style foldable smartphones in Europe will approach 4 million units, representing over 2% of total smartphone sales, with a potential market share of nearly 10% in the high-end segment priced above $800 [2]

Core Insights - By 2028, book-style foldable smartphone sales are expected to approach 4 million units, accounting for over 2% of total smartphone sales, with a nearly 10% market share in the high-end segment in Europe [1][9] - 2024 is a pivotal year for the European foldable smartphone market, with a projected 37% year-on-year growth in sales, driven primarily by book-style foldable models, which are expected to see a 60% increase [1][9] - The competitive landscape is intensifying, with Samsung's market share dropping from 98% in 2022 to 73% by the end of 2023 due to new entrants like Honor, Google, and others [2][3] Market Dynamics - Honor's Magic V2 has captured 27% of the European book-style foldable smartphone market, and the upcoming Magic V3 is anticipated to further enhance its position [3][6] - Samsung is set to launch the Galaxy Z Fold7 in July 2025, which is its thinnest and lightest foldable smartphone to date, potentially regaining market competitiveness [6][8] - Google and other manufacturers are also ramping up their efforts in the European foldable smartphone market, indicating a new phase of industry growth [7][9] Future Projections - Apple is expected to enter the foldable smartphone market in 2026, which will further intensify competition and potentially accelerate market growth [9] - Despite a projected decline in foldable smartphone sales in the first half of 2025 due to a lack of technological innovation and macroeconomic factors, a rebound is anticipated in the latter half of the year [9][10]