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

BEIJING — On Chinese e-commerce tract JD.com's "hot sales" smartphone rankings this week, the Honor Magic V2 foldable vies with Apple iPhone models for the apical 3 spots.

Honor, spun disconnected from Huawei, launched its Magic V2 connected July 12 with a starting terms of 8,999 yuan ($1,245).

Sales officially began Thursday. But a week of pre-sale request has pushed transportation times for caller orders to mid-September, according to JD.com's app, a commonly utilized level for buying electronics successful China.

The Magic V2's 9,999-yuan exemplary ranked 2nd successful popularity among JD.com smartphone income arsenic of Thursday morning, portion a 7,799-yuan Apple iPhone 14 Pro ranked first. The iPhone 13 held 3rd place.

Honor's caller instrumentality folds up to beryllium astir arsenic bladed arsenic an iPhone — 9.9 millimeters versus the 14's 7.85 millimeters, without a case. That means the Magic V2 is astir three-eighths of an inch heavy erstwhile folded.

Importantly, the foldable telephone was capable to equilibrium thinness with "reasonable artillery life," said Ethan Qi, subordinate manager astatine Counterpoint Research. "From my perspective, the biggest highlights [for the phone] are the industry's thinnest assemblage (9.9mm) and lowest value (231g)."

Honor claims the Magic V2's artillery is conscionable 2.72 millimeters heavy and tin enactment astir 14 hours of video watching connected the phone's unfolded ample screen. The iPhone 14 claims astir 20-30 hours of video watching connected a azygous artillery charge, depending connected the barroom telephone model.

"The Magic V2's pre-sales figures successful China are a affirmative indicator and shows the resilience of the premium segment, which bodes good for foldables maturation successful the country," Qi said.

"The premium conception is not precise big, but it's the conception everyone wants to win."

Competition is growing.

Samsung is acceptable to merchandise "slimmer and lighter" foldables astatine a July 26 event, according to a blog post tease. The institution is besides promoting that "Join the Flip Side" motorboat lawsuit livestream successful China.

Samsung's Galaxy Z Fold4 sells for 10,999 yuan connected JD.com, portion its Galaxy Z Flip3, which opens up similar a flip phone, lists a terms of 4,699 yuan.

Huawei, Xiaomi and Vivo besides merchantability foldables successful China successful a premium terms range.

Foldables are a agleam spot successful a shrinking planetary smartphone market.

In the archetypal quarter, China's foldable marketplace much than doubled from a twelvemonth agone to 1.08 cardinal units, according to Counterpoint Research.

That helped boost the planetary foldable smartphone market, with 64% year-on-year maturation successful the archetypal quarter, Counterpoint said.

In contrast, the planetary smartphone marketplace fell by 14.2% successful the archetypal 3 months of the year, and China's fell by a milder 8%, the information showed.

Honor besides sells internationally, but it's not yet wide what circumstantial plans the marque has for the Magic V2.

In China, Honor is selling crossed large e-commerce platforms, including Douyin, the section mentation of TikTok that's becoming a increasing portal for selling via livestreams.

As of Thursday morning, Honor had sold much than 10,000 Magic V2 units connected Douyin.

Livestreaming has go a increasing portal for income successful China. The country's livestreaming income reached astir 17.7% of wide online retail income successful the archetypal fractional of the year, oregon astir $180 billion, according to Ministry of Commerce information released Thursday.

Honor besides sells its phones connected Alibaba's Tmall e-commerce level and the Kuaishou abbreviated video app. Both platforms, arsenic good arsenic JD, enactment livestreaming sales.

The smartphone institution was antecedently a marque nether Huawei. But aft U.S. sanctions connected the telecommunications giant, Honor was sold to a radical of buyers that included the authorities of Shenzhen, wherever the company's office are.

— CNBC's Arjun Kharpal contributed to this report.