(Yicai) Sept. 12 -- Foldable phone shipments in China may increase by more than 52 percent this year to 10.68 million units, according to a forecast by International Data Corporation.

The country’s shipments of foldable smartphones may account for about 42 percent of the global total in 2024, the US research firm said in a new report.

China is the largest market for phones with flexible, bending screens because domestic producers have actively invested in such technology, IDC noted. Huawei Technologies is the leading Chinese foldable phone maker, having taken a more than one-third share of the market since 2020.

Huawei released the world's first dual-folding, triple-screen phone on Sept. 10. Priced from CNY19,999 (USD2,810), the Huawei Mate XT Ultimate Design has already taken more than four million orders. Bi-fold phones will further drive the market’s development, IDC said.

China's foldable handset shipments are expected to exceed 17 million units by 2028, increasing at a five-year compound growth rate of 19.8 percent and accounting for about 39 percent of the total worldwide, IDC also predicted.

Honor and Vivo Communication Technology occupied over 23 percent and almost 19 percent, respectively, of the Chinese market in the first half of this year. Oppo Mobile Telecommunications, despite not launching any new products this year, had 8.6 percent, while Samsung, facing major competition from Chinese brands, had just 4.2 percent.

Editor: Futura Costaglione