Counterpoint Analysis revealed the smartphone market in China might have bottomed out and on its approach to restoration. Throughout the Q3 interval, gross sales declined simply 3% on a yearly foundation, which together with the sequential improve are sturdy restoration alerts. Huawei was the largest gainer, growing its gross sales by 37%.
Nonetheless the July-September interval, Honor climbed to the highest of the desk with profitable gross sales of the X50 and 90 sequence, surpassing vivo and Oppo.
Huawei elevated its market share and total gross sales because of the Mate 60 telephones, powered by a Kirin chipset. The sequence made an enormous splash, mentioned Senior Analyst Ivan Lam, and the corporate is investing in offline and on-line channels for distribution to meet up with demand.
Xiaomi additionally managed to extend its gross sales by 5%, preserving its fifth place in China. Promotional costs of the Redmi Ok and Notice sequence introduced sturdy gross sales, and the corporate was targeted on providing extra inexpensive midrange merchandise to retailers and shoppers to offset any potential downward stress. Analysis Analyst Alicia Gong mentioned that this technique “has confirmed to be efficient”.
A decline in Apple’s market share was attributable to worth cuts earlier within the 12 months, pushing individuals to go for an iPhone 14 system as a substitute of ready for the brand new iPhone 15. Oppo and vivo have been impacted by weaker spending in Tier 2 and decrease cities, they usually additionally weren’t as aggressive as Honor and Xiaomi.
Throughout Q3 2023, the top-selling clamshell foldable was the Oppo Discover N2 Flip, whereas Honor Magic V2 was on prime of all foldables with a vertical hinge. All corporations count on to finish the calendar 12 months with sturdy gross sales.