Apple and Huawei Foldable Launches Aim to Revive Slumping Smartphone Market
Next week, Apple and Huawei will launch new foldable smartphones, potentially revitalizing a global market expected to shrink by 17% by 2026. On September 9, Apple will present its inaugural foldable iPhone, along with updates to its standard models and the first keynote by new CEO John Ternus. Meanwhile, Huawei, headquartered in Shenzhen, will reveal the Mate XT 2, an enhanced version of its flagship trifold device, two days prior. Analysts, such as IDC's Nabila Popal, anticipate that Apple's entry will significantly shift the foldable market, forecasting over 17 million foldable iPhones to be shipped by 2027, capturing nearly 40% of the market. This development occurs against a backdrop of rising component costs impacting the smartphone industry.
Key facts
- Apple's September 9 event will feature its first foldable iPhone.
- Huawei will unveil the Mate XT 2 two days before Apple's event.
- Global smartphone shipments are projected to decline 17% in 2026.
- IDC projects Apple will ship over 17 million foldable iPhones by 2027.
- Apple is expected to capture about 40% of the global foldable market.
- John Ternus will make his keynote debut as new CEO at Apple's event.
- Analysts say Apple's entry will fundamentally alter the foldable market's trajectory.
- The launches come amid soaring component costs affecting the smartphone sector.
Entities
Institutions
- Apple
- Huawei Technologies
- IDC
Locations
- Shenzhen
- China