White light emitting diodes (WLEDs) are widely used due to their advantages of high efficiency, low electricity consumption, long service life, quick response time, environmental protection, and so on. The addition of red phosphor is beneficial to further improve the quality of WLEDs. The search for novel red phosphors has focused mainly on Eu2+ ion- and Mn4+ ion-doped compounds. Both of them have emissions in the red region, absorption in blue region, and similar quantum yields. Eu2+-doped phosphors possess a rather broad-band emission with a tail in the deep red spectral range, where the sensitivity of the human eye is significantly reduced, resulting in a decrease in luminous efficacy of WLEDs. Mn4+ ions provide a narrow emission band ~670 nm in oxide hosts, which is still almost unrecognizable to the human eye. Mn4+-doped fluoride phosphors have become one of the research hotspots in recent years due to their excellent fluorescent properties, thermal stability, and low cost. They possess broad absorption in the blue region, and a series of narrow red emission bands at around 630 nm, which are suitable to serve as red emitting components of WLEDs. However, the problem of easy hydrolysis in humid environments limits their application. Recent studies have shown that constructing a core–shell structure can effectively improve the water resistance of Mn4+-doped fluorides. This paper outlines the research progress of Mn4+-doped fluoride A2MF6 (A = Li, Na, K, Cs, or Rb; M = Si, Ti, Ge or Sn), which has been based on the core–shell structure in recent years. From the viewpoint of the core–shell structure, this paper mainly emphasizes the shell layer classification, synthesis methods, luminescent mechanism, the effect on luminescent properties, and water resistance, and it also gives some applications in terms of WLEDs. Moreover, it proposes challenges and developments in the future.