Counterpoint Research revealed the smartphone market in China may have bottomed out and on its way to recovery. During the Q3 period, sales declined just 3% on a yearly basis, which along with the sequential increase are strong recovery signals. Huawei was the biggest gainer, increasing its sales by 37%.
Still the July-September period, Honor climbed to the top of the table 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 huge splash, said Senior Analyst Ivan Lam, and the company is investing in offline and online channels for distribution to catch up with demand.
Xiaomi also managed to increase its sales by 5%, keeping its fifth place in China. Promotional prices of the Redmi K and Note series brought strong sales, and the company was focused on offering more affordable midrange products to retailers and consumers to offset any potential downward pressure. Research Analyst Alicia Gong said that this strategy “has proven to be effective”.
A decline in Apple’s market share was due to price cuts earlier in the year, pushing people to go for an iPhone 14 device instead of waiting for the new iPhone 15. Oppo and vivo were impacted by weaker spending in Tier 2 and lower cities, and they also weren’t as aggressive as Honor and Xiaomi.
During Q3 2023, the top-selling clamshell foldable was the Oppo Find N2 Flip, while Honor Magic V2 was on top of all foldables with a vertical hinge. All companies expect to end the calendar year with strong sales.