china: China smartphone sales hits new low, Honor fastest growing
The last time sales were lower than this point was nearly a decade ago in Q4 2012, when the iPhone 5 was introduced.
According to Counterpoint Research, with a 19.8 percent share, Vivo retained its first place in Q2, followed by Honor (18.3 percent) and OPPO (17.9 percent).
The quarter's volumes were 12.6 percent lower than the level seen during the severe pandemic-hit Q1 2020.
"During this period, major cities across China, including financial and manufacturing hubs like Shanghai, went through full or partial lockdowns. The hardest hit was the services sector, which fell into contraction territory, from 4 percent YoY growth in the first quarter to 0.4 percent in the second quarter," said senior analyst Ivan Lam.
"Weak consumer sentiment combined with the high smartphone penetration rate in China resulted in a poor Q2 performance for smartphone sales," Lam added.
During the quarter, Vivo maintained its leadership.
"The mid-to-high-end S12 series helped vivo grab a good share in the USD250-USD399 segment. Research analyst Mengmeng Zhang said that sub-brand iQOO also received positive market feedback, especially from younger customers."
Honor continues its great comeback by expanding its offline presence.
"Honor managed to take share from all the leading Chinese brands, including Huawei, during the quarter. It is time for OPPO and vivo to take Honor seriously" Zhang added.
Apple still saw a comparatively good performance thanks to the strong sales of the iPhone 13 series in Q2.
Despite the discouraging performance in Q2, major Chinese OEMs continued efforts to strengthen their positions in the high-end segment, the report noted.
( Details and picture courtesy from Source, the content is auto-generated from RSS feed.)
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