Core Viewpoint - Huawei is launching a limited-time Spring Festival promotion offering significant discounts on various products from January 29 to February 28, with discounts reaching up to 2000 yuan on select models [1] Group 1: Promotion Details - The Pura 80 series designated models will have discounts of up to 1500 yuan [1] - The Mate 70 series designated models will have discounts of up to 1800 yuan [1] - The Mate X6 series will offer discounts of up to 2000 yuan [1] - An additional trade-in discount of up to 1000 yuan is available [1] - The promotion includes a maximum of 12 months interest-free installment options [1] Group 2: Participating Products - The promotion covers a wide range of products including the Mate 80 series, Pura 80 series, Mate 70 series, Mate X6 series, Pura X series, nova 15 series, Mate XTs, Huawei watches, headphones, tablets, PCs, smart screens, and routers [1]

Core Viewpoint - Huawei has initiated a significant promotional campaign ahead of the Spring Festival, offering substantial discounts on various flagship products to stimulate consumer demand in a challenging market environment [1][6]. Group 1: Promotional Activities - Huawei's "New Spring Discount" campaign runs from January 29 to February 28, featuring discounts on multiple flagship products, with the Smart Screen S6 Pro offering the highest discount of 4000 yuan [1][5]. - Discounts on smartphones include up to 1500 yuan off the Pura 80 series, 1800 yuan off the Mate 70 series, and 2000 yuan off the Mate X6 series. Additionally, consumers can receive up to 1000 yuan in extra subsidies for trade-ins and enjoy interest-free installment plans for up to 12 months [2][5]. - The promotion extends beyond smartphones to include a wide range of Huawei's ecosystem products, such as smartwatches, headphones, tablets, PCs, and smart routers, providing consumers with a comprehensive selection for the Spring Festival [5]. Group 2: Market Context - The global smartphone industry is currently facing growth challenges, with IDC predicting a slight decline in China's smartphone market shipments in 2025, estimated at approximately 284 million units, down 0.6% year-on-year [7]. - Despite the overall market contraction, Huawei has managed to reclaim the top position in China's smartphone market with a shipment volume of 46.7 million units in 2025, achieving a market share of 16.4%, surpassing Apple and Vivo, which both hold 16.2% [6][7]. - The competitive landscape among the top five smartphone manufacturers remains intense, with market shares highly concentrated [7]. Group 3: Supply Chain and Technology - Huawei's ability to navigate the current market challenges is supported by its enhanced self-sufficiency in core component supply chains, particularly with the recent public unveiling of the Kirin 9020 chip, marking a significant development after a four-year hiatus [8].

Core Viewpoint - Huawei is launching a limited-time Spring Festival promotion offering significant discounts on various products, aiming to boost sales during the festive season [1] Group 1: Promotion Details - The promotion runs from now until February 28, with discounts on specific models: up to 1500 yuan off on the Pura 80 series, up to 1800 yuan off on the Mate 70 series, and up to 2000 yuan off on the Mate X6 series [1] - Customers can also benefit from a trade-in program, receiving up to 1000 yuan off, and can take advantage of a maximum interest-free installment plan of 12 months, with total price reductions reaching up to 4000 yuan [1] Group 2: Participating Products - The promotional event includes a wide range of products such as the Huawei Mate 80 series, Pura 80 series, Mate 70 series, Mate X6 series, Pura X series, nova 15 series, Mate XTs, as well as Huawei watches, headphones, tablets, PCs, smart screens, and routers [1]

Core Viewpoint - Huawei is launching a limited-time Spring Festival promotion offering significant discounts on various products, aiming to boost sales during the festive season [1] Group 1: Promotion Details - The promotion runs from now until February 28, with discounts on specific models: up to 1500 yuan off on the Pura 80 series, up to 1800 yuan off on the Mate 70 series, and up to 2000 yuan off on the Mate X6 series [1] - Customers can also benefit from a trade-in program with a maximum discount of 1000 yuan and financing options with up to 12 months of interest-free installments, leading to total price reductions of up to 4000 yuan [1] Group 2: Participating Products - The promotional event includes a wide range of products such as the Huawei Mate80 series, Pura80 series, Mate70 series, MateX6 series, Pura X series, nova15 series, Mate XTs, as well as Huawei watches, headphones, tablets, PCs, smart screens, and routers [1]

Group 1 - Huawei has announced a limited-time Spring Festival promotion, running from now until February 28, offering significant discounts on various product lines [1] - The Pura 80 series designated models can receive discounts of up to 1,500 yuan, while the Mate 70 series can be discounted by up to 1,800 yuan, and the Mate X6 series can see discounts of up to 2,000 yuan [1] - The promotion includes trade-in offers with a maximum discount of 1,000 yuan and financing options with up to 12 months of interest-free installments, with total price reductions reaching up to 4,000 yuan [1] Group 2 - Participating products in the promotion include the Huawei Mate 80 series, Pura 80 series, Mate 70 series, Mate X6 series, Pura X series, nova 15 series, Mate XTs, as well as Huawei watches, headphones, tablets, PCs, smart screens, and routers [1]

Investment Rating - The report does not explicitly state an investment rating for the folding screen mobile phone industry Core Insights - The folding screen mobile phone has emerged as a strategic direction to break the growth bottleneck in the smartphone market, with significant growth expected from 2022 to 2024 [10][11] - The folding screen technology has evolved significantly, focusing on durability, user experience, and diverse forms [14][24] - The Chinese folding screen mobile phone industry is expected to lead globally due to technological advancements, cost control, and market innovation [23][24] Summary by Sections 01 Current Development of the Folding Screen Mobile Phone Industry - The global smartphone market has entered a phase of stock competition since 2017, with annual shipments declining by approximately 2.52%, projected to reach 1.22 billion units by 2024 [6][7] - Folding screen mobile phones are redefining user experience and are expected to maintain high growth rates in shipments from 2022 to 2024 [11][12] - The folding screen technology has undergone continuous evolution, focusing on core hardware reliability and software ecosystem optimization [14] 02 Brand Competition in the Folding Screen Mobile Phone Market - The global shipment of folding screen smartphones is projected to reach 6.6 million units in the first half of 2025, with a 0.1% year-on-year growth expected for the entire year [71] - In China, the shipment of folding screen smartphones is expected to reach 9.69 million units in 2024, with a steady growth trend observed [74] - The market is dominated by horizontal folding phones, which are expected to account for 6.31 million units in 2024 [80] 03 Consumer Psychology Insights of Folding Screen Mobile Phone Users - The user demographic for folding screen phones is predominantly male and urban, with a significant preference among high-education individuals [91][92] - The primary reasons for purchasing folding screen phones include a stronger sense of technology and innovation, with a budget of 8,000 to 10,000 yuan being common among users [109][110] - Users are primarily corporate managers, with a high interest in technology and brand reputation [94][95]

Core Viewpoint - Samsung Electronics has launched its first tri-fold smartphone, the Galaxy Z TriFold, showcasing its engineering capabilities in the foldable device market, despite being over a year late compared to competitors like Huawei [1][3]. Product Launch and Market Position - The Galaxy Z TriFold will debut in South Korea on December 12, priced at 3.59 million KRW (approximately $2,450), and will later be available in markets including China, Singapore, UAE, and the USA [1]. - Samsung's launch precedes Apple's anticipated foldable iPhone, expected in fall next year, which will feature a book-style design similar to Samsung's Galaxy Z Fold 7 released earlier this year [3]. Design and Features - The TriFold utilizes a dual-hinge design, allowing it to unfold into a tablet-sized device, while Huawei's Mate XT features a Z-shaped structure when folded [4]. - In tablet mode, the device can run multiple applications simultaneously, akin to using three 6.5-inch smartphones side by side, enhancing multitasking capabilities [6]. - The device is equipped with a 5,600 mAh battery, the largest capacity for Samsung's foldable phones to date, supporting up to 17 hours of continuous video playback when fully unfolded [6]. User Experience and Software - The TriFold features intuitive operation, with alerts for incorrect folding methods, and includes a complete Galaxy AI software suite, offering various generative editing and assistant functionalities [8]. - Samsung has optimized the device's hinge, aluminum frame, and display technology for durability, and offers a 50% discount on screen repair costs if needed [6]. Sales Performance and Future Outlook - Initial sales of Samsung's new foldable phones have often surpassed previous models, but still lag behind more affordable models like the Galaxy S25 Ultra [8]. - Following its recent release pattern, Samsung is expected to launch the Galaxy S26 series early next year [8].

目前三折叠手机市场相对小众，三星发布三折叠手机对全球及中国市场的折叠手机销售不会带来明显的销量贡献，但能提升折叠屏产品的"科技光环"。 12月2日，三星电子发布首款三折叠手机。这款三折叠手机展开两次时，会露出一个10英寸的显示屏。与此前华为三折叠手机采用Z字形折叠方案不同， 这次三星电子发布的三折叠手机采用双侧内折方案，内屏完全包裹。 "而华为三折叠手机Mate XTs采用Z字形折叠方案，折叠是直板，半展开使用2/3屏幕是大折叠，完全展开是平板形态，相对灵活，但缺点在于有一部分屏 幕长期暴露，刮花风险更大。"周华说。 周华认为，目前三折叠手机市场相对小众，三星发布三折叠手机对全球及中国市场的折叠手机销售不会带来明显的销量贡献，但是能提升折叠屏产品 的"科技光环"，吸引消费者的关注度。 据CINNO Research数据，2025年全球折叠屏手机出货量将同比微增2%，达1800万台左右，其中，中国折叠屏手机出货量可能将同比增长6%至1250万台。 2026年受益于华为和三星新品迭代、价格下探和苹果可能入局，全球折叠屏手机的出货量预计将同比增长38%-65%至 2500万-3000万台，其中，中国折叠 屏手机出货 ...

Group 1 - Samsung Electronics has launched its first tri-fold smartphone, the Galaxy Z TriFold, showcasing engineering breakthroughs in the foldable device sector, despite the category not being widely accepted in the mainstream market [1] - The device features a dual-hinge design that expands to a 10-inch tablet-sized screen, set to debut in South Korea on December 12, priced at 3.59 million KRW (approximately 2,450 USD), with plans to enter markets in mainland China, Taiwan, Singapore, and the UAE [1] - The launch precedes Apple's anticipated foldable iPhone, expected to be unveiled in the fall of next year, which may feature a design similar to Samsung's Galaxy Z Fold 7 released in July [1] Group 2 - The TriFold employs a dual inward-folding design, allowing for three independent applications to run simultaneously on a screen equivalent to three 6.5-inch smartphones side by side, enhanced by Samsung DeX software for a desktop-like interface [2] - Samsung has reinforced the durability of the device with improved hinges, aluminum alloy frames, and display technology, offering a 50% discount on display screen replacements [2] - The device is equipped with a 5,600 mAh battery, the largest capacity for Samsung's foldable models, supporting 17 hours of continuous video playback in full-screen mode, although regular usage battery data has not been disclosed [2]

Core Insights - Samsung Electronics has launched its first tri-fold smartphone, the Galaxy Z TriFold, ahead of Apple's anticipated entry into the foldable market, aiming to solidify its technological leadership in this emerging field [1] - The device features two hinges and transforms into a tablet-sized device when unfolded, set to debut in South Korea on December 12 at a price of 3.59 million KRW (approximately $2,450) [1] - Samsung's early release of a more complex tri-fold device highlights its competitive edge in foldable technology and sets a new benchmark for the high-end market [1] Product Features - The Galaxy Z TriFold boasts a new form factor and enhanced multitasking capabilities, with an external screen size comparable to standard smartphones and a 10-inch display when fully opened, surpassing the Galaxy Z Fold 7 [2] - In tablet mode, the three screens can run different applications independently, akin to using three 6.5-inch smartphones side by side, and supports up to four independent workspaces in DeX mode, allowing five applications to run simultaneously [2] Market Competition - The launch of the tri-fold smartphone directly competes with Huawei's Mate XT, which has already entered the foldable market in China, the largest market for such devices [4] - Huawei's upgraded Mate XTs are priced similarly to the Galaxy Z TriFold, although Samsung's device is noted to have better Android app compatibility [4] Design and Durability - Samsung has improved the hinge, aluminum frame, and display technology of the Galaxy Z TriFold to enhance long-term durability, offering a one-time 50% discount on display repairs to alleviate consumer concerns [5][6] - The device measures only 3.9 mm at its thinnest point and features a 5600 mAh battery, the largest capacity used in Samsung's foldable phones, supporting up to 17 hours of continuous video playback when fully opened [6] Software and Market Outlook - The Galaxy Z TriFold includes Samsung's Galaxy AI feature suite, offering generative editing, photo assistance, and writing assistance, along with a six-month trial of Google AI Pro subscription service [9] - Despite recent foldable phone sales exceeding previous models, they remain insignificant compared to more affordable traditional models like the Galaxy S25 Ultra, and the market's response to the Galaxy Z TriFold's unique features and capabilities remains to be seen [9]