Huawei's smartphone sales in China are up 69.7% year-on-year, while Apple is struggling with a 19% decrease
Research firm Counterpoint has released data on smartphone sales in China for the first quarter of 2024. Overall, sales increased 1.5% year-on-year, marking the second consecutive quarter of positive growth, driven by Huawei, which showed a 69.7% increase year-on-year. Meanwhile, Apple, which has been hit by Huawei's revival, is struggling with a 19.1% decrease year-on-year.
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iPhone sales drop 19% in China as Huawei demand soars: Counterpoint
https://www.cnbc.com/2024/04/23/apple-iphone-sales-drop-19percent-in-china-as-huawei-demand-soars-counterpoint.html
Below is a graph comparing sales share in the first quarter of 2023 and the first quarter of 2024, as shown by Counterpoint. Overall, sales increased by 1.5%, with Huawei increasing by 69.7%, Honor increasing by 11.5%, and Xiaomi increasing by 8.6%. Meanwhile, Apple decreased by 19.1%, OPPO decreased by 15.5%, and vivo decreased by 0.4%.
One of the reasons for Huawei's growth is the introduction of the Mate 60 series, which has the capabilities to compete with foreign manufacturers.
'Compared to the previous quarter, the first quarter of 2024 figure was up 4.6%, suggesting that momentum in China's smartphone sales is picking up, with Chinese New Year in particular being the biggest source of growth,' said Ethan Qi, associate director at Counterpoint.
Senior analyst Meng Meng Shan also points out that new smartphones are purchased during the Spring Festival. When migrant workers return to their hometowns for the Spring Festival, they buy affordable devices, which results in a huge increase in sales of low-end devices, further widening the market share gap.
Regarding Apple's sales, which are down 19.1% year-on-year, senior research analyst Ivan Lam said, 'We are seeing slow but steady signs of improvement week by week, so momentum may change in the future. In the second quarter, aggressive sales strategies and new color lineups may bring the company back into positive territory. Of course, attention is also focused on the AI features to be announced at the developer event WWDC in June 2024, which could bring about major changes.'
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