The sales of Chinese smartphones around the world, including India and China, have fallen significantly, and the smartphone sales in the same April-June quarter have decreased by 10%. Sales were down 14.2 percent, Counterpoint Market Pulse Research reported. During this period, major cities across China, including the financial and manufacturing hub pan-Shanghai, went through full or partial lockdowns. In addition, China’s Q2 smartphone sales performance, coupled with high smartphone series launches and price wars, has declined and is poor, research analyst Mengmeng Zhang said.
China’s economy grew 0.4%YOY in Q2 2022, just 0.8%-1% below market expectations. With total retail sales of consumer goods falling 11.1% YOY, China’s smartphone sales volume has now halved from a historic peak in the fourth quarter of 2016. Given the low sales volume numbers for q2 2022, we expect China smartphone sales to rebound in the next quarter. Mengmeng Zhang opined that the situation will be very difficult to improve as demand continues to decline due to weak consumer sentiment.
In the current quarter, Vivo retained the top spot in China’s smartphone market with 19.8% share, followed by Honor with 18.3% share and Rs. Smartphones from OPPO held a 17.9% share. Honor managed to grab share from all major Chinese brands including Huawei during the quarter. Now is the time for OPPO and Vivo to take Honor seriously. Apple is still seeing a relatively good performance, Zhang said, with sales of the iPhone 13 series increasing in Q2.
Also Read: Commonwealth Games 2022: India’s Complete schedule for day 1
Counterpoint Technology Market Research is a global research firm specializing in products in the TMT (Technology, Media and Telecom) industry. It provides IT services to leading technology and financial organizations with monthly reports, customized plans and detailed analyzes of mobile and technology markets. The key analysts working at Counterpoint are seasoned experts in the high-tech industry and shed light on the latest trends in the global TMT (Technology, Media and Telecom) industry market. Based on the counterpoint reports, many changes are also seen in the market.
Comments are closed.