Counterpoint Research revealed that China’s smartphone market may have bottomed out and is on the road to recovery. During the third quarter, sales fell just 3% year-over-year, which, combined with the sequential increase, is a strong sign of recovery. Huawei was the biggest winner, increasing its sales by 37%.
Also in the July-September period, Honor rose to the top of the chart with successful sales of the X50 and 90 series, surpassing vivo and Oppo.
Huawei has increased its market share and overall sales thanks to the Mate 60 phones, powered by a Kirin chipset. The series has been a huge success, said senior analyst Ivan Lam, and the company is investing in offline and online channels for distribution to meet demand.
Xiaomi also managed to increase sales by 5%, maintaining fifth place in China. Promotional pricing of the Redmi K and Note series has brought strong sales, and the company has focused on offering more affordable mid-range products to retailers and consumers to offset any potential downward pressure. Research analyst Alicia Gong said this strategy “has proven effective.”
A drop in Apple’s market share was due to price cuts earlier in the year, which pushed people to choose an iPhone 14 device instead of waiting for the new iPhone 15. Oppo and vivo were affected by spending more weak in tier 2 cities and below, and they also weren’t as aggressive as Honor and Xiaomi.
During the third quarter of 2023, the best-selling clamshell foldable was the Oppo Find N2 Flip, while the Honor Magic V2 topped all vertical hinge foldables. All companies expect to end the calendar year with strong sales.
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