Oppo’s Gambit: Tech company bets on foldable phones with the Find N3, takes on Google, Samsung

Chinese smartphone manufacturer Oppo is making a significant move into the high-end foldable smartphone market by launching two new devices in its Find series. This strategic push comes as Oppo aims to tap into a growing demand for premium handsets, despite an overall decline in the smartphone market and intensified competition in the domestic market. The company unveiled the Find N3, a foldable smartphone with a sizable 7.8-inch inner screen, directly competing with offerings from industry giants like Samsung’s Galaxy Fold 5 and Google’s Pixel Fold. This book-style handset boasts an enhanced hinge designed to withstand one million folds, ensuring durability. Additionally, Oppo has incorporated its ultra-premium camera system, a first for foldable phones, providing users with camera functionality on par with its flagship models. Powered by Qualcomm’s Snapdragon 8 Gen 2 5G chipset, the Find N3 is priced at S$2,399 (approximately US$1,750) and will be available for pre-order starting Friday. Oppo also introduced its Find N3 Flip, a clamshell-style foldable handset designed for international markets. This device features a triple camera system and a substantial outer screen that enables users to access over 80 apps without unfolding the phone. The Find N3 Flip initially debuted in China back in August. Elvis Zhou, Oppo’s overseas chief marketing officer, emphasized the company’s commitment to breaking ground in the high-end foldable phone market, stating, “The popularization of foldable phones is a significant growth engine for the future of the smartphone industry.” While foldable handsets represent a small portion of the total smartphone market, their appeal to high-end consumers makes them commercially valuable. According to Counterpoint Research data, global shipments of foldable handsets rose by 64 per cent in the first quarter, contrasting with a 14.2 per cent decline in the overall smartphone market. China has emerged as a key market for foldable smartphones, with a remarkable 117 per cent growth in the first quarter of 2023. In the domestic market, Oppo faces fierce competition, particularly from Huawei, which recently unveiled its foldable Mate X5. As per Counterpoint data, Oppo ranks second in the Chinese foldable market, closely trailing Huawei with a 27 per cent market share. Oppo’s success can be attributed to its Find N2 series launched in late 2022, with the N2 Flip being the most popular model in the clamshell category, surpassing Huawei’s Pocket S. The competition in China’s smartphone market has intensified with Huawei’s resurgence, marked by the surprise launch of its 5G-capable Mate 60 Pro series in September. Huawei has raised its smartphone shipment target by 20 per cent for the second half of the year, as reported by Securities Daily. To further establish its presence in the high-end consumer segment, Oppo is focusing on the Asia-Pacific region. Andy Shi, the president of Oppo for APAC, stressed that expanding sales channels in upscale locations and enhancing service quality in physical stores will be essential to compete with rivals like Samsung and Apple. Oppo also reaffirmed its commitment to the European market, despite challenges such as a recent patent dispute with Nokia and ongoing regulatory uncertainties. Elvis Zhou stated, “We will continue to launch new products in the European market, and our ‘all in foldable’ strategy will not leave this market out. Foldable products will be a key way to make breakthroughs in mature markets like Europe.” (With input from agencies)