Counterpoint: China's smartphone sales increased 6.8% year-on-year during the 618 shopping festival

The latest data from Counterpoint shows that smartphone sales in China grew 6.8% year-on-year during the 618 shopping festival from week 21 to week 24 in 2024. Most OEMs offered price discounts similar to last year, indicating a pick-up in demand. It is worth noting that this year's 618 lasted from May 20 to June 20, which was longer than in the past, as Tmall's promotions started on May 20. The 618 in 2023 was from May 31 to June 18. This extended promotion period also contributed to this year's growth.

Huawei was the big winner during the 618 period, with smartphone sales increasing 42.4% year-on-year. This was mainly due to the continued demand for its new 5G products. Although Huawei offered the smallest price discounts among major OEMs, Huawei's products, such as the Mate 60 series and Pura 70 series, were still in high demand.

Vivo performed the second best, with a year-on-year growth of more than 12.6%. It launched the high-end x100 series, economical Y200 series, and mid-range iQOO Neo 9s Pro before the launch event, and the mid-range S19 series during the launch event. This helped boost the company's sales during the period.

Xiaomi's sales increased by nearly 12.6% year-on-year, mainly due to discounts of up to RMB 1,000 (about US$139) during the period and increased sales of mid- to high-end phones. Among Xiaomi's models, the Redmi K70 was the best-selling model during the period.

Honor's sales increased by 4.3% year-on-year. In addition to significant price cuts, Honor also launched the mid-range Honor 200 series during the 618 period. Popular value-for-money products such as the Honor X50 also made a significant contribution to this growth.

Apple's sales increased 2.7% year-on-year, thanks to stronger promotions and an extra week of sales compared to 2023. During this period, the brand offered its biggest discounts ever, up to 2,350 yuan (about $326) ​​to attract consumers, especially considering Huawei's fierce competition in the high-end market.

Given the recovery of the Chinese smartphone market since the beginning of this year, the annual growth rate of the Chinese smartphone market will remain in the low single digits in 2024.