Counterpoint: China's smartphone sales in Q1 increased by 1.5% year-on-year, and the difference between the head and tail shares of vivo, Honor, Apple, Huawei, OPPO, and Xiaomi was only 2.8%

According to the latest data released by Counterpoint Research, China’s smartphone sales in the first quarter of 2024 increased by 1.5% year-on-year and 4.6% month-on-month, continuing to maintain the momentum of year-on-year growth in the second quarter.

Looking at the breakdown of each manufacturer, vivo ranked first in sales this quarter, followed by Honor and Apple. Huawei stood out among all mobile phone brands this quarter, with a year-on-year growth of 69.7%; Honor also showed a growth rate of 11.5%.

This site noticed that Apple iPhone sales in China fell by 19% in the first quarter. This is the worst performance in China since the COVID-19 pandemic around 2020. In addition, compared with previous years, Apple's replacement demand is also weak.

According to predictions, Counterpoint Research predicts that China’s smartphone market will experience low-single-digit year-on-year growth; smartphone brand manufacturers are expected to continue to explore new AI applications and will further expand these AI applications. Penetrate into the mid-range market.

Counterpoint Associate Director of Research Ethan Qi said: “As smartphone sales in China continue to grow and achieve 4.6% month-on-month growth, recovery momentum appears to be gathering. Sales promotions during the Chinese Spring Festival are driving sales growth momentum Main factors. According to data from Counterpoint’s China Smartphone Weekly Model Sales Tracker, average weekly sales in the first four weeks of the Spring Festival increased by 20% compared with normal weeks.”

Counterpoint Senior Analyst Mengmeng Zhang. Pointed out: The first quarter of 2024 will be the most fiercely competitive quarter, with the gap between the top six manufacturers in terms of market share being only 3 percentage points.

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