A new foldable smartphone is becoming as popular as an Apple iPhone model in China

BEIJING — On Chinese e-commerce website JD.com’s “hot sales” smartphone rankings this week, the Honor Magic V2 foldable vies with Apple iPhone fashions for the highest three spots.

Honor, spun off from Huawei, launched its Magic V2 on July 12 with a beginning value of 8,999 yuan ($1,245).

Sales formally started Thursday. But per week of pre-sale demand has pushed supply occasions for brand spanking new orders to mid-September, in accordance with JD.com’s app, a generally used platform for getting electronics in China.

The Magic V2’s 9,999-yuan mannequin ranked second in reputation amongst JD.com smartphone gross sales as of Thursday morning, whereas a 7,799-yuan Apple iPhone 14 Pro ranked first. The iPhone 13 held third place.

Honor’s new machine folds as much as be practically as skinny as an iPhone — 9.9 millimeters versus the 14’s 7.85 millimeters, and not using a case. That means the Magic V2 is about three-eighths of an inch thick when folded.

Importantly, the foldable telephone was in a position to stability thinness with “reasonable battery life,” stated Ethan Qi, affiliate director at Counterpoint Research. “From my perspective, the biggest highlights [for the phone] are the industry’s thinnest body (9.9mm) and lowest weight (231g).”

Honor claims the Magic V2’s battery is simply 2.72 millimeters thick and might assist about 14 hours of video watching on the telephone’s unfolded giant display. The iPhone 14 claims about 20-30 hours of video watching on a single battery cost, relying on the bar telephone mannequin.

“The Magic V2’s pre-sales figures in China are a positive indicator and shows the resilience of the premium segment, which bodes well for foldables growth in the country,” Qi stated.

“The premium segment is not very big, but it’s the segment everyone wants to win.”

Competition is rising.

Samsung is about to launch “slimmer and lighter” foldables at a July 26 occasion, in accordance with a weblog put up tease. The firm can also be selling that “Join the Flip Side” launch occasion livestream in China.

Samsung’s Galaxy Z Fold4 sells for 10,999 yuan on JD.com, whereas its Galaxy Z Flip3, which opens up like a flip telephone, lists a value of 4,699 yuan.

Huawei, Xiaomi and Vivo additionally promote foldables in China in a premium value vary.

Foldables are a brilliant spot in a shrinking international smartphone market.

In the primary quarter, China’s foldable market greater than doubled from a 12 months in the past to 1.08 million items, in accordance with Counterpoint Research.

That helped enhance the worldwide foldable smartphone market, with 64% year-on-year progress within the first quarter, Counterpoint stated.

In distinction, the worldwide smartphone market fell by 14.2% within the first three months of the 12 months, and China’s fell by a milder 8%, the information confirmed.

Honor additionally sells internationally, but it surely’s not but clear what particular plans the model has for the Magic V2.

In China, Honor is promoting throughout main e-commerce platforms, together with Douyin, the native model of TikTok that is changing into a rising portal for promoting through livestreams.

As of Thursday morning, Honor had offered greater than 10,000 Magic V2 items on Douyin.

Livestreaming has turn into a rising portal for gross sales in China. The nation’s livestreaming gross sales reached about 17.7% of total on-line retail gross sales within the first half of the 12 months, or about $180 billion, in accordance with Ministry of Commerce information launched Thursday.

Honor additionally sells its telephones on Alibaba’s Tmall e-commerce platform and the Kuaishou quick video app. Both platforms, in addition to JD, assist livestreaming gross sales.

The smartphone firm was beforehand a model below Huawei. But after U.S. sanctions on the telecommunications large, Honor was offered to a gaggle of consumers that included the federal government of Shenzhen, the place the corporate’s headquarters are.

— CNBC’s Arjun Kharpal contributed to this report.