Oppo is ramping up an overseas push with the launch of two foldable handsets in its more expensive Find series, betting on stronger demand for high-end handsets in a shrinking overall smartphone market amid tougher domestic competition.
The Chinese smartphone maker on Thursday launched its new foldable Find N3, featuring a large 7.8-inch inner screen to compete with the likes of Samsung Electronic’s Galaxy Fold 5 and Google’s Pixel Fold. The book-style handset also comes equipped with an enhanced hinge that Oppo says can take one million folds.
The Find N3 incorporates Oppo’s ultra-premium camera system, the first time it has been used in a foldable phone, offering users the same camera functionality as its flagship models. The Find N3, powered by Qualcomm’s Snapdragon 8 Gen 2 5G chipset, is priced at S$2,399 (US$1,750) and will be available for pre-order from Friday.
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Oppo also launched its clamshell-style Find N3 Flip handset for international markets, featuring a triple camera system and a big outer screen that allows users to use over 80 apps without unfolding the phone. The Find N3 Flip debuted in China in August.
Oppo doubles down on generative AI as it seeks an edge in cutthroat smartphone market
Oppo wants to make breakthroughs with its foldable phones in the high-end market, said the company’s overseas chief marketing officer Elvis Zhou in a media briefing after the launch event in Singapore on Thursday.
“The popularisation of foldable phones is a significant growth engine for the future of the smartphone industry,” Zhou said. While the volume of foldable handsets is still a small fraction of the total smartphone market, their price and popularity with high-end consumers makes them valuable commercially, Zhou added.
Globally, foldable handset shipments increased 64 per cent in the first quarter to reach 2.5 million units, compared with a 14.2 per cent decline in the overall smartphone market, according to Counterpoint Research data. China is emerging as the world’s largest foldable smartphone market, with 117 per cent growth in the first quarter of 2023 amid a slew of new handsets.
Domestically, Oppo’s main competitor is Huawei Technologies, which unveiled its foldable Mate X5 last month. According to the Counterpoint data, Oppo ranked second in the Chinese foldable market, just slightly behind Huawei with 27 per cent. Oppo was helped by the launch of its Find N2 series released in late 2022, and its N2 Flip was the most popular model in the clamshell-type category over Huawei’s Pocket S.
Competition in China’s smartphone market is intensifying after Huawei’s comeback with the surprise launch of its 5G-capable Mate 60 Pro series in September. Huawei has already raised its smartphone shipment target by 20 per cent for the second half of the year, according to a report by Securities Daily.
Asia-Pacific will be a key battleground for Oppo in the fight for high-end consumers, said Andy Shi, president of Oppo for APAC. To catch up with rivals including Samsung and Apple, Oppo will need to expand its sales channels in upscale locations and enhance service quality in physical stores, Shi added.
Oppo reiterated its commitment to Europe following its move to halt sales in Germany after a patent dispute with Nokia and amid wider regulatory uncertainty.
“We will continue to launch new products in the European market, and our ‘all in foldable’ strategy will not leave this market out,” Zhou said. “Foldable products will be a key way to make breakthroughs in mature markets like Europe.”
More from South China Morning Post:
- China smartphone brand Oppo doubles down on generative AI to gain an edge in cutthroat handset market
- China’s smartphone market shows signs of revival amid strong demand for Huawei’s new 5G handsets, Apple’s latest iPhones during ‘golden week’ holiday
- Tech war: Huawei unveils slew of new products but keeps quiet on breakthrough Mate 60 Pro and chip inside
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