According to Counterpoint Research, the Chinese smartphone market seems to have hit its low point and is now on a path to recovery. In the third quarter (Q3), sales only saw a 3% decline compared to the previous year, and this, coupled with a sequential increase, indicates a strong recovery trend. Notably, Huawei emerged as the biggest gainer, with a remarkable 37% increase in sales.
During the July to September period, Honor claimed the top spot with its successful sales of the X50 and 90 series, surpassing competitors such as vivo and Oppo.
Huawei managed to boost its market share and overall sales, largely attributed to the success of the Mate 60 phones, which are powered by Kirin chipsets. Senior Analyst Ivan Lam noted that this series created a significant impact, and the company is making investments in both offline and online distribution channels to meet the rising demand.
Xiaomi also saw a 5% increase in sales, maintaining its fifth-place position in the Chinese market. The promotion of Redmi K and Note series devices led to strong sales, and the company’s focus on offering more affordable midrange products to both retailers and consumers helped offset potential downward pressure. Research Analyst Alicia Gong pointed out that this strategy has been effective.
Apple’s market share declined due to price reductions earlier in the year, which encouraged customers to opt for an iPhone 14 instead of waiting for the new iPhone 15. Oppo and vivo were also impacted by reduced spending in Tier 2 and lower-tier cities, and they were not as aggressive as Honor and Xiaomi in their approach.
In Q3 2023, the best-selling clamshell foldable device was the Oppo Find N2 Flip, while the Honor Magic V2, with a vertical hinge, led the pack in all foldable categories. All these companies anticipate strong sales to close out the calendar year.