Counterpoint: China's smartphone sales in the third quarter of 2024 will increase by 2.3% year-on-year

Counterpoint's latest report shows that China's smartphone sales in the third quarter of 2024 increased by 2.3% year-on-year, marking four consecutive quarters of growth.

In the third quarter, vivo topped the list with a market share of 19.2%. Its diverse product portfolio and competitive models in almost all price ranges helped vivo maintain its leadership. Huawei followed closely behind with a market share of 16.4%, and Xiaomi ranked third with a market share of 15.6%.

Huawei's strong rebound continued in the third quarter, helping the brand achieve 30% year-on-year growth on a low base. The Pura 70 and Mate 60 series drove the majority of Huawei's sales, reflecting Huawei's strong presence in the high-end market in China.

Xiaomi's rise to third place is due to the success of its mid-range Redmi K series and flagship Mi series. Xiaomi added the K70 Ultra to the K70 series in the third quarter. This model once again proves its high-spec, low-price strategy.

Brands launched more affordable models in the third quarter to expand their market share. Notable launches included new versions of the OPPO A3 and vivo Y200 GT, as well as the new vivo Y300 Pro. OEMs also cut prices on older models in preparation for new product launches in the fourth quarter. Huawei cut prices on its Pura 70 and Mate 60 series in preparation for the launch of the Mate 70 series. Honor plans to launch the X60 in October, aiming to replicate the success of its X50, which has dominated the budget phone market.

In the foldable segment, Honor expanded its offerings with the Magic V3 and Magic Vs3, complementing its clamshell Magic V Flip. Xiaomi also launched the Mix Flip and Mix Fold 4. Huawei grabbed the headlines with the world's first triple-screen smartphone, the Mate XT, with an entry-level price of about $2,808 (RMB 19,999). This innovation once again put the foldable segment in the spotlight.

Apple released the new iPhone 16 series on September 20. As of October 8, more than 70% of iPhone 16 series sales came from Pro and Pro Max models, highlighting customers' preference for better display, gaming, and imaging experience. This trend may bring more revenue growth to Apple.

As we enter the fourth quarter, Chinese OEMs are entering a period of flagship model launches. All major brands will update their flagships with the latest chipsets while launching updated mid-range models for the mass market. Therefore, competition is expected to be more intense in the fourth quarter.