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Counterpoint: China's smartphone shipments grew 2.3% YoY in Q3, and the market is expected to see its first annual growth in five years

Market IntelSunday, Oct 27, 2024 11:00 pm ET

1min read

According to the latest data from Counterpoint Research's monthly mobile phone sales report, China's smartphone sales grew 2.3% YoY in Q3 2024, achieving positive YoY growth for four consecutive quarters, further confirming the market's recovery trend in 2024 and boosting industry confidence.In Q3, Vivo ranked first with a 19.2% market share, thanks to its diversified product portfolio and popular models across price segments. Huawei followed closely behind with a 16.4% market share, ranking second.Huawei maintained a strong rebound in Q3, helping the brand achieve a 30% YoY growth from a low base. The Pura70 and Mate60 series contributed most of Huawei's sales, reflecting its strong influence in the Chinese high-end market.Brands launched more affordable models in Q3 to compete for market share, including the new color versions of OPPO A3, Vivo Y200GT, and the newly released Vivo Y300Pro. OEMs also reduced the prices of old models to prepare for new product releases in Q4. Huawei lowered the prices of Pura70 and Mate60 series to welcome the launch of Mate70 series. Honor plans to launch X60 in October, aiming to replicate the success of X50 in the budget market.In the foldable phone segment, Honor launched the Magic V3 and Magic Vs3 in Q3, expanding its foldable product line this year. Honor released its first small foldable phone, Magic V Flip, this year. Huawei attracted attention with the world's first tri-fold phone, Mate XT, priced at approximately USD 2,808 (CNY 19,999). This innovation once again put the foldable phone segment under the spotlight.Apple's new iPhone 16 series was released on September 20. As of October 8, more than 70% of iPhone 16 series sales came from Pro and Pro Max models, highlighting consumers' preference for more outstanding display, gaming, and imaging experiences. This trend may bring more revenue growth for Apple.As we enter Q4, Chinese smartphone brands are set to launch their flagship models. All major brands will adopt the latest chips in the updates of their flagship products and launch updated mid-range models to meet the needs of the mass market. Therefore, competition is expected to be more intense in Q4.

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