End the slide! China's smartphone shipments in Q1 2024 will increase by 1% year-on-year: OPPO honors Huawei in the top three

News on May 6, according to the latest report released by market research organization TechInsights, China’s smartphone market achieved steady growth in shipments in the first quarter of 2024, with shipments reaching 63.3 million units, a year-on-year increase of 1% . This growth marks the end of 11 consecutive quarters of annual decline in China's smartphone market, showing a positive recovery in the market.

In terms of manufacturers, the market performance of the four major manufacturers OPPO/OnePlus, Honor, Huawei and vivo is particularly outstanding. Their market shares are about the same and they jointly occupy a dominant position in the market.

Among them, OPPO/OnePlus leads the Chinese smartphone market with a market share of 17.1%, showing its strong market competitiveness. Honor, Huawei and vivo followed closely, ranking second to fourth, with market shares of 16.7%, 16.6% and 16.1% respectively, also showing strong growth momentum.

Xiaomi ranks fifth with a market share of 15.0%. Although it failed to enter the top four, its performance in the market is still solid. However, Apple, which has attracted much attention, fell out of the top five with a market share of 13.7%. This change has attracted widespread attention in the industry.

From the perspective of market share distribution, the top six smartphone manufacturers accounted for a total of 95.1% of the market share, which was higher than 93.7% a year ago, indicating that market concentration has increased. This also means that the competition in China's smartphone market is becoming increasingly fierce, and the competition among major manufacturers for market share has become more intense.

For other smaller manufacturers in China, they are limited in scale and channels and face huge challenges. For example, Meizu announced during the quarter that it would shift its focus from its traditional smartphone business to new artificial intelligence hardware, which also reflects the helplessness and transformation pressure of small manufacturers in market competition.

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