Counterpoint Research has revealed that the smartphone market in China may have hit bottom and is on the path to recovery. During the third quarter, sales only declined by 3% on a yearly basis, which, along with the sequential increase, signals a strong recovery. Huawei was the biggest winner, increasing its sales by 37%.
Also during the July-September period, Honor topped the rankings with successful sales of the X50 and 90 series, surpassing Vivo and Oppo.
Huawei increased its market share and overall sales thanks to the Mate 60 phones, powered by a Kirin chipset. The series made a sensation, said senior analyst Ivan Lam, and the company is investing in offline and online distribution channels to catch up with demand.
Xiaomi also managed to increase its sales by 5%, retaining its fifth place in China. The promotional prices of the Redmi K and Note series generated strong sales, and the company 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 « proved effective ».
Apple’s market share decline was due to the early year price cuts, pushing people to opt for an iPhone 14 instead of waiting for the new iPhone 15. Oppo and Vivo were affected by lower spending in tier 2 and lower cities, and they were also not as aggressive as Honor and Xiaomi.
During the third quarter of 2023, the best-selling flip phone was the Oppo Find N2 Flip, while the Honor Magic V2 was ahead of all foldable phones with a vertical hinge. All companies expect to finish the calendar year with strong sales.