The Chinese smartphone market shipped 67.1 million units in the third quarter of 2023, marking a 6.3 percent decrease compared to the same period last year. This dip in shipments is attributed to smartphone vendors exercising caution in anticipation of new product launches in the final quarter of the year.
Despite the decline, there are encouraging signs that the market may be bottoming out, as consumers were drawn to the buzz surrounding the Huawei Mate 60 series. Furthermore, key smartphone vendors are gearing up for a more robust performance in the fourth quarter, with a special focus on the upcoming Singles’ Day online shopping festival, the latest data from the IDC Worldwide Quarterly Mobile Phone Tracker has revealed.
One noteworthy development is the return of Honor to the top spot in the Chinese smartphone market after a hiatus of over a year. Honor’s success can be attributed to the release of three new foldable models, which have strengthened the brand’s position in the competitive high-end segment with a price point of US$600 and above.
Apple, on the other hand, launched its iPhone 15 series during the quarter but faced lower-than-expected demand. While the highest-end model, the iPhone 15 Pro Max, garnered positive feedback, it encountered supply constraints during the initial sales period.
Will Wong, Senior Research Manager for Client Devices at IDC Asia/Pacific, commented on the current market situation, stating, “The Chinese market is expected to see its first year-on-year growth in the fourth quarter of 2023 after more than two years, mainly driven by more intense competition and a low comparison base.”
Top brands in the Chinese smartphone market are Honor with 19.3 percent share as against Oppo (16.2 percent), Apple (16 percent), Vivo (15.7 percent) and Xiaomi (13.5 percent) during the third quarter, IDC said.
As the Chinese smartphone market prepares for the upcoming quarter and Singles’ Day, the industry is optimistic about the potential for growth and recovery. The competition between brands and the evolving consumer sentiment will play pivotal roles in shaping the market’s trajectory in the months to come.
