After suffering eleven consecutive quarters of decline, China’s smartphone market showed a modest but significant sign of recovery in the first quarter of 2024. According to market research firm TechInsights, total smartphone shipments reached 63.3 million units, accounting for 1 % on an annual basis is increasing. This positive change suggests a potential turning point for the once troubled industry.
China’s smartphone market is showing temporary signs of recovery, with local brands dominating
The data reveals a significant shift in brand dominance in the Chinese market. Although Apple previously held a strong position, it fell out of the top 5 players in Q1 2024, capturing only 13.7% market share. This development highlights the growing strength of China’s domestic smartphone makers.
Gizchina News of the week
Oppo, which includes its subsidiary OnePlus, emerged as the leading brand with 10.7 million units shipped and a market share of 16.9%. Honor, Huawei and Vivo follow closely behind, each holding a roughly similar market share hovering around 16%. It should be noted that Huawei’s performance is particularly noteworthy. Shipments grew a staggering 118.8% year-on-year to 10.5 million units, shooting it to third place with a 16.6% market share. This resurgence can be attributed in part to the successful launch of the Mate 60 series with 5G support and continued brand loyalty.
The dominance of local brands is further highlighted by the combined market share of the top six manufacturers. TechInsights reports that these players now control a staggering 95.1% of the market, up from 93.7% the previous year. This trend shows consolidation in the industry, with Chinese companies consolidating their positions in the domestic market.
Although the overall growth is modest, it represents a critical turning point for China’s smartphone industry. The revival of local brands and the potential recovery from An apple suggest a period of cautious optimism. Continued innovation, strategic marketing and a focus on consumer needs are likely to determine the long-term trajectory of this vital sector.
