According to IDC, China's smartphone market shipped 76.4 million units in the fourth quarter of last year, up 3.9% year-on-year. The growth was driven by new product launches and government subsidies in some provinces and cities. For the full year 2024, China's market will ship 286.2 million units, up 5.6% year-on-year, marking a recovery after two years of decline, thanks to pent-up demand and innovations such as GenAI. Will Wong, senior research manager for client devices at IDC Asia Pacific, said: "The recovery is a boon to the smartphone industry, but not all OEMs have benefited from the growth as consumers have become more discerning. This suggests a trend towards value, which is prevalent not only in China but also globally. Market players need to adapt to this shift in consumer behaviour if they want to continue to profit from the economic recovery."
"The market recovery in 2025 is expected to be supported by government subsidies," said Arthur Guo, senior research analyst at IDC China Client Systems Research. "This provides an opportunity for market players to adjust their strategies by leveraging these government initiatives." |
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