Global electronic manufacturer China experienced a 6.3 per cent lower smartphone shipments in quarter 3 of 2023 compared to the same period of last year. According to the IDC Worldwide Quarterly Mobile Phone Tracker, 67.1 million smartphones shipped in China in 3Q23.
The drop in shipments is attributed to economic uncertainty and increased price sensitivity among the Chinese population. Additionally, the absence of new product launches in the quarter contributed to the slump.
A sign of the market boom emerged as consumers were attracted by the social buzz led by the Huawei Mate 60 series while the key vendors put more focus and hope in 4Q23, especially during the Singles’ Day online shopping festival sale.
In terms of individual company performances, Honor reclaimed the top spot after over a year, with its three new foldable models that captured a sizeable share of the premium segment priced above USD 600.
On the other hand, Apple’s latest iPhone 15 series encountered lower demand than expected, despite the positive response towards the high-end iPhone 15 Pro Max. Unfortunately, supply chain issues prevented the company not reaching expected sales.
Huawei remained on the top with 19 per cent market while Oppo and Apple shared second and third spots respectively with 16 per cent of the market share. Vivo and Xiaomi remained in fourth and fifth places respectively with 15 per cent and 13 per cent market shares in the Chinese mobile market.
“The Chinese market is expected to see its first YoY growth in 4Q23 after more than two years, mainly driven by more intense competition and a low comparison base,” said Will Wong, Senior Research Manager for Client Devices, IDC Asia/Pacific. Wong adds, “Nevertheless, challenges remain, especially since Chinese consumers have become more rational, with FOMO sentiment not as strong as pre-Covid.”
