Asia Tech Wire (Sep 11) -- Market research firm International Data Corporation (IDC) expects shipments in China's foldable phone market to grow 52.4% year-on-year this year.

The latest forecast report released by IDC shows that it expects China's foldable phone market to ship around 10.68 million units in 2024, a year-on-year growth of 52.4%.

The company also predicted that China would ship more than 17 million foldable phones by 2028, a five-year compound growth rate of 19.8%.

The forecasts came as Huawei on Tuesday unveiled its first tri-fold phone, the Huawei Mate XT, priced at 19,999-23,999 yuan.