BERLIN, Sept. 2 (Yonhap) — The IFA tech exhibition, which opened on Friday in Berlin, has just seen a possible powerful competitor in the foldable smartphone market: HONOR’s Magic V2.
The Chinese device manufacturer said on Friday that it will be launching its most recent foldable phone overseas, less than two months after the device’s exclusive release in China.
During a keynote address at the yearly tech show, HONOR CEO George Zhao said the Shenzhen-based company will strive to make foldable phones mainstream, echoing the vision of Samsung Electronics Co., a pioneer of the form factor.
HONOR’s Magic V2, which is 4.7 millimeters thick when open, is displayed at IFA 2023 in Berlin on Sept. 1, 2023. (Yonhap)
“HONOR’s foldable smartphones have come a long way, with each iteration displaying remarkable progress in design, functionality and durability,” Zhao said.
Indeed, the firm’s new phone took visitors and industry insiders by surprise, with its advanced features found in a premium smartphone.
Equipped with Qualcomm’s Snapdragon 8 Gen 2, the Magic V2 is lighter and slimmer than the Galaxy Z Fold 5, which was released in July.
Samsung’s fifth-generation foldable phone weighs 253 grams and is 6.1 millimeters thick when open and 13.4 millimeters when closed. The Magic V2 is much slimmer at 4.7 millimeters and 9.9 millimeters, respectively.
HONOR’s Magic V2, which is 9.9 millimeters thick when closed, is displayed at IFA 2023 in Berlin on Sept. 1, 2023. (Yonhap)
The Magic V2’s light weight and slim body will surely be attractive to some people who were hesitant to buy one due to the form factor’s usual bulky size.
According to industry tracker Counterpoint Research, the global foldable smartphone market grew 64 percent year-on-year in the first quarter, largely driven by the growth in the Chinese foldable market.
Huawei led the Chinese foldable market, followed by OPPO, Samsung and HONOR.
Meanwhile, the overall smartphone market declined 14.2 percent year-on-year during the same period.
This photo provided by Samsung Electronics Co. on July 26, 2023, shows the Galaxy Z Fold 5 and Z Flip 5. (PHOTO NOT FOR SALE) (Yonhap)
Samsung has said it intends to increase the portion of foldable phones to half of its total smartphone sales by 2025.
Since Samsung first introduced the form factor in 2019, more companies have joined the high-end segment, including Google, which launched its first foldable phone, Pixel Fold, in May.
According to market researcher Canalys, Samsung accounted for approximately 77 percent of foldable phone shipments worldwide last year.
Foldable phone shipments are expected to reach 21.4 million units this year, up more than 50 percent from a year ago, as consumers start to embrace the new form factor, the International Data Corp. said.
By 2027, the figure could reach 48.1 million, it estimated, driven by “a healthy demand for this growing form factor.”
jaeyeon.woo@yna.co.kr
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