Apple Takes On China Foldables

It's been Zynga, bringing Wall Street to Main Street. Demand for foldable smartphones in China is surging ahead of Apple's iPhone Duo launch, signaling strong interest in the category. According to the Wall Street Journal, China accounts for more than a third of global foldable smartphone sales, according to Counterpoint Research. Huawei leads the market and said sales of its Pura X Max jumped 77% during the four days after Apple announced the Duo, while Xiaomi also reported record first-week sales for its 18-fold. Foldables remain a small part of the broader smartphone market, representing about 4% of sales in China and 2% globally. Counterpoint projects Apple could sell up to 6 million foldable iPhones this year and capture 25% of the global foldables market. Apple didn't respond to the Journal's request for comment. For all things money, visit Benzinga.com