Counterpoint: China's smartphone sales in Q3 2024 will increase by 2.3% year-on-year

Counterpoint: China's smartphone sales in Q3 2024 will increase by 2.3% year-on-year

According to the latest data from Counterpoint Research's monthly mobile phone sales report, in the third quarter of 2024, China's smartphone sales increased by 2.3% year-on-year, achieving year-on-year growth for four consecutive quarters. It is expected to achieve the first annual growth in five years, further confirming the market recovery trend in 2024.

In the third quarter, vivo ranked first with a market share of 19.2%, followed by Huawei with a market share of 16.4%, and Xiaomi ranked third with a share of 15.6%. Honor, OPPO, and Apple saw their market shares decline, down 14.6%, 5.8%, and 2.6% year-on-year, respectively.

Huawei maintained its strong rebound 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 most of Huawei's sales, reflecting its strong presence in the high-end market in China. Xiaomi's rise to third place was due to the success of its mid-to-high-end Redmi K series and flagship digital series.

Brands launched more affordable models in the third quarter to compete for market share. These include the OPPO A3, new color versions of the vivo Y200 GT, and the new vivo Y300 Pro. OEMs also cut prices on older models in preparation for new product launches in the fourth quarter. Huawei reduced prices on the Pura 70 and Mate 60 series in anticipation of the launch of the Mate 70 series. Honor plans to launch the X60 in October, aiming to replicate the success of the X50 in the budget market.

In the field of foldable phones, Honor launched Magic V3 and Magic Vs3 in the third quarter, expanding its foldable product line this year. Honor released its first small foldable product Magic V Flip this year. Xiaomi also launched Mix Flip and Mix Fold 4. Huawei attracted attention with the world's first tri-fold phone Mate XT, with an entry-level price of approximately US$2,808 (RMB 19,999). This innovation once again put the foldable phone field in 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 superior display, gaming, and imaging experiences. This trend could bring more revenue growth to Apple.

As we enter the fourth quarter, Chinese smartphone brands are entering the release period of flagship models. All major brands will adopt the latest chips in the updates of their flagship products, while launching updated mid-range models to meet the needs of the mass market. Therefore, competition in the fourth quarter is expected to be more intense.

Phoenix Technology

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