Market News

Sales of China's smartphone market fell 3% year-on-year in the third quarter of this year, narrowing the year-on-year decline, indicating that China's smartphone market may be nearing bottom, according to market research firm Counterpoint. The performance of major mobile phone brand manufacturers is significantly different from that of the same period last year, resulting in a change in market ranking. The market share of Vivo (about 17.8 per cent) and OPPO (about 16 per cent) fell sharply, while Glory (about 18.3 per cent) topped the list. Glory leads the market with a share of 18.3%, mainly due to the newly launched Glory X50 and Glory 90. Last quarter, AAPL.US (AAPL), Xiaomi-W (01810.HK) and Huawei accounted for 14.2%, 14% and 12.9% of the smartphone market, respectively. Apple's sales in China recorded an annual double-digit decline last quarter. Ivan Lam, a senior analyst at Counterpoint, explained that as the price reduction in the distribution channel was earlier than expected, part of the demand for the older model iPhone was met in the first two quarters of this year and was not offset by the official price adjustment. Coupled with the initial supply constraints of the iPhone 15 series, the initial sales of the iPhone 14 were not as good as those of the iPhone 14. Lam continues to rise, and mobile phone brands Vivo and OPPO, which are mainly sold through traditional offline channels, faced a decline in purchasing power in second-tier and even more remote cities last quarter, and were not as aggressive as Honor and Xiaomi in marketing.