The fourth quarter (Q4) of 2023 saw 6.6% year-over-year (YoY) growth in the Chinese smartphone market, marking the first quarterly increase in more than two years, according to Counterpoint Research. And Apple took the top spot for the first time followed by Xiaomi and Huawei.
Despite a 9.0% YoY drop, the iPhone retained its first position in Q4 with 20.2% market share. In Q4, Apple faced stiff competition from Huawei. Besides, the iPhone 15 series’ performance was lukewarm, something which was also indicated by the strong sales of the iPhone 14 series in the first half of the year, according to Counterpoint Associate Director Ethan Qi.
Looking ahead to 2024, Counterpoint Research expects low single-digit YoY growth for China’s smartphone market, bringing it back to growth after five years. Huawei’s mid-end Nova 12 series with 5G Kirin chipsets, launched at the end of Q4 2023, is expected to continue bringing back loyal users.
Apple embraced price cuts in January to capitalize on the recovery and offset the pressure from local manufacturers. Chinese manufacturers are also expected to focus on generative AI, innovative form factors like foldables, and advanced imaging technologies to boost sales and expand their user bases.
Article provided with permission from AppleWorld.Today