Honor Magic V2 sets a new record for its lightweight and thinness among foldable smartphones

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Summary

Global technology brand Honor announced its next-generation flagship foldable smartphone, the Honor Magic V2, in China.

Honor Magic V2 specifications

Honor Magic V2 is the third-generation foldable smartphone from Honor since they launched their first foldable smartphone, the Honor Magic V, in January 2022. Foldable smartphones are an important strategy product for Honor as the company aims to gain a higher market share in the premium market. Honor also believes that foldable smartphones are a well-differentiated product to compete with Apple. The specifications for Honor Magic V2 are as follows:

• Display: 7.92-inch main display with 120Hz refresh rates; 6.43-inch second display with 120Hz refresh rates
• Dimensions:
  • Unfolded:156.7mmx145.4mmx4.7mm or 4.8mm
  • Folded: 156.7mmx74.1mmx9.9mm (leather back) or 10.1mm (glass back)
• Weight:
  • 231g (leather back)
  • 237g (glass back)
• Chipset: Qualcomm SM8550-AB Snapdragon 8 Gen 2
• Memory: 16RAM+256GB/512GB/1TB
• Price: ¥8,999 ($1,260)/ ¥9999 ($1,399)/ ¥11999 ($1,679)

Table 1: Honor’s foldable smartphone specifications

Notes: The leather back variant is lighter, while the glass back variant is heavier.

Source: Omdia

Honor continuously iterates its folding smartphones improve user experience. Compared with the last two generations, the Honor Magic V2 is thinner and lighter, without compromising on other specifications. For example, batteries, hinges, and screen modules remain the same.

This innovation in material technology is a huge breakthrough for Honor. Firstly, the innovative hinge materials are a first-of-its-kind super-light titanium hinge, which provides the perfect balance between weight and strength. Secondly, Honor Magic V2 introduces dual silicon-carbon batteries, averaging a thickness of merely 2.72mm, for extended performance. The battery features Honor’s revolutionary low-voltage charge energy-gathering technology for greater power output at the same voltage compared to graphite-based battery systems. With a battery capacity of 5,000mAh, and supporting 66W Honor Supercharge, the Honor Magic V2 ensures users stay connected without constant recharging. However, the phone does not support wireless charging, unlike competitors Samsung and Google. The display also sees an upgrade, with the Honor Magic V2 adopting an OLED LTPO display, with both the inner and outer displays supporting 120Hz refresh rate.

According to Omdia’s Smartphone Model Market Tracker – 1Q23 Database, foldable smartphones were launched in the second half of 2019, but more than 50% of foldables’ all-time shipments were in 2022, with 12.9 million units. This accounted for 1.1% of the total smartphone market that year. Foldable phones represented 5.2% of the premium segment. Samsung is the biggest player in the foldable smartphone market, with 78.6% market share in 2022. However, with more Chinese brands entering this market, Samsung’s market share is expected to decrease. Honor accounted for 2% market share in 2022, but it has only fold (book type or vertical fold) and flip (clamshell or horizontal fold) type foldables.

Foldable smartphones remain a niche product, despite their current high growth rate. In the foldable smartphone market, there are two types of smartphones: fold (book type or vertical fold) and flip (clamshell or horizontal fold). The vertical-fold type emphasizes a multitasking experience, making use of the tablet-like inner screen. The recently launched Magic V2 supports a stylus pen, keeping this aspect in mind.

But there are still several problems that must be solved in current foldable smartphones, such as the high price, display fold crease, durability, weight, and thickness. However, with more brands entering the foldable smartphone market, the product price is expected to decrease, and these problems will likely be tackled. The Honor Magic V2 prioritizes weight and thickness, making it the lightest and thinnest foldable smartphone on the market.

Table 2: Foldable smartphone specification comparison by brand

Notes: The leather back variant is lighter, while the glass back variant is heavier.

Source: Omdia

Honor Magic V2 not only leads the design race in weight and thickness among foldable smartphones but is also lighter and thinner than some non-foldable premium smartphones, such as iPhone 14 Pro Max, Samsung Galaxy S23 Ultra, and Huawei Mate 50 RS.

Table 3: Smartphone specification comparison by brand

Notes: The leather back variant is lighter, while the glass back variant is heavier.

Source: Omdia

With Honor solving some of the major pain points of foldable smartphones through innovation in material technology, competition between OEMs to reduce the weight and thickness is expected to accelerate.

Because more OEMs are launching foldable smartphones and as competition intensifies, we expect technological advancements and price cuts, leading to rapid market size growth. However, because Apple still holds significant power in the premium market and is unlikely to enter the foldable smartphone competition, the foldable market size will remain at 52 million units in 2026, constituting 5% of the total market.

Appendix

Further reading

Smartphone Model Market Tracker – 1Q23 Database (June 2023)

Author

Zaker Li, Principal Analyst, Mobile Device

[email protected]