TechInsights: China's smartphone shipments will increase by 1% year-on-year in Q1 2024, with OPPO, Honor, and Huawei in the top three

Thanks to the netizens who sent me clues! According to news on May 6, market research organization TechInsights released a report that in Q1 2024, China’s smartphone shipments will be 63.3 million units, a year-on-year increase of 1%. That ended an 11-quarter streak of annual declines. The recovery was partly driven by a disappointing first quarter of 2023, but was also driven by a return to normal product launch cycles and inventory building activity by local suppliers.

In terms of manufacturers, the market shares of the four major manufacturers - OPPO/OnePlus, Honor, Huawei and vivo are about the same: OPPO/OnePlus leads the Chinese smartphone market with a market share of 17.1%. Honor, Huawei and vivo followed closely, ranking second to fourth, with market shares of 16.7%, 16.6% and 16.1% respectively. Xiaomi ranked fifth with a market share of 15.0%, while Apple fell out of the top five with a market share of 13.7%. TechInsights said the top six smartphone vendors collectively accounted for 95.1% of the market, up from 93.7% a year ago, indicating increased market concentration. Other smaller manufacturers in China are limited in scale and channels and continue to face huge challenges in the domestic market. For example, Meizu announced during the quarter that it would shift its focus from its traditional smartphone business to new artificial intelligence hardware. Noted that major research institutions have given different rankings of China’s smartphone market in Q1 2024: IDC: Honor won the first place with a market share of 17.1%, Huawei ranked second with a market share of 17.0%, and OPPO , Apple and vivo ranked third to fifth respectively. Counterpoint: Vivo ranks first in quarterly sales, followed by Honor and Apple. Huawei stood out among all mobile phone brands in the first quarter, with a year-on-year growth of 69.7%; Honor also showed a growth rate of 11.5%. Canalys: Huawei regained the first place in the Chinese mainland market, with a market share of 17%; OPPO jumped to second place, with shipments reaching 10.9 million units; Honor, vivo, and Apple ranked first in the fourth quarter of last year After active shipments, the pace slowed down, ranking third, fourth and fifth respectively.

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