Counterpoint: Apple loses out as smartphone shipments in China off to a slumping start in 2024

Smartphone shipments are off to a rocky start in China with a drop of 7% in the first six weeks of 2024. The latest Counterpoint Research report shows double-digit declines in shipments across the board for the January 1 to February 11 period compared to last year. Low consumer confidence and the lack of upcoming high-profile launches as the two main reasons behind the disappointing start to the year.

Oppo saw its shipment shares drop by 29% while Apple’s shipments were down 24% compared to last year. In Apple’s case, Counterpoint analysts specify stiff competition in the higher-end market and a tendency for Apple consumers to hold onto their devices for longer.

China smartphone market sales and growth during the first 6 weeks of 2023 and 2024

Huawei and Honor were the only two companies to experience positive growth in terms of shipments. Huawei’s shipments grew by 64% fueled by demand for its Mate 60 series while Honor saw a 2% growth. Huawei came in second place for shipments in the first six weeks of 2024, right behind vivo while Honor was in third place.

Vivo and Xiaomi round out the top 5 smartphone brands by shipments for the period. Counterpoint analysts expect the negative growth to continue throughout the first quarter.

Source