China smartphone market to close 2024 with first annual sales growth in 5 years: report
China’s smartphone market is on track to record its first annual sales growth in five years, according to Counterpoint Research, which placed Apple out of the top-five domestic rankings in the third quarter.
Sales in the world’s largest smartphone market rose 2.3 per cent year on year in the September quarter, marking four consecutive quarters of growth that reinforce projections of a low single-digit increase in 2024, according to a Counterpoint report on Monday.
Chinese smartphone vendors Vivo, Huawei Technologies, Xiaomi, Honor and Oppo occupied the top-five domestic rankings, as Apple took the No 6 spot with a 13.5 per cent market share last quarter.
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Vivo continues to lead China’s smartphone market, as domestic sales rebound in 2024. Photo: Shutterstock alt=Vivo continues to lead China’s smartphone market, as domestic sales rebound in 2024. Photo: Shutterstock>
Improved domestic consumption is expected to heat up competition among major smartphone vendors this fourth quarter, boosted by Singles’ Day-related promotions and the introduction of artificial intelligence features in the latest 5G handset models.
“All major brands will update their flagship products with the latest chipsets, while introducing refreshed mid-end models for the mass market,” the Counterpoint report said. “As a result, competition in the fourth quarter is expected to be even more intense.”
Apple’s iPhone 16 series, which was released on September 20, already saw more than 70 per cent of domestic sales come from the Pro and Pro Max models as of October 8, “highlighting customer preference for more impressive display, gaming and imaging experiences”, the report said. It expected this trend to “result in more revenue growth for Apple”.
In the third quarter, Vivo continued to lead China smartphone sales with a 19.2 per cent market share. “Its diverse portfolio, with competitive models across nearly all price segments, helped Vivo retain its leadership position,” the Counterpoint report said.
Advertising for Huawei Technologies’ new Mate XT trifold 5G smartphone seen at a subway station in Shanghai. Photo: Shutterstock alt=Advertising for Huawei Technologies’ new Mate XT trifold 5G smartphone seen at a subway station in Shanghai. Photo: Shutterstock>
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