China’s smartphone shipments fell by 11% in the third quarter from last year as the country’s slowing economy takes a toll on demand.
A total of 70 million smartphones were shipped to sellers, down from 78.9 million from same period last year, research firm Canalys said on Thursday.
“Vendors have been suffering from rapidly declining demand and high inventory over past quarters, which has severely damaged confidence in the overall supply chain,” Canalys analyst Toby Zhu wrote in the report.
The dip continues an ongoing trend for the sector, which in recent years has faced challenges ranging from the global chip shortage, the economic impact of China’s zero-Covid policy, and lengthening upgrade cycles from consumers.
Apple Counters The Trend
Apple Inc was the only brand to buck the trend, with shipments jumping 36% to 11.3 million, analysts say that the surge was due to demand for the iPhone 14 Pro model, as demand for the basic iPhone 14 model has been weak.
Vivo, owned by the Shenzhen-based conglomerate BBK, was the top-ranked brand in the quarter, shipping 14.1 million devices and taking a market share of 20%. The top three brands – Vivo, OPPO, and Honor – saw shipments fall 23%, 27%, and 16% respectively.
Apple currently ranks as the fourth top-selling brand in China, with a market share of 13%.
Xiaomi Corp, which ranked as the fifth top-selling brand, saw shipments fall 17%.
- Reuters, with additional editing from Alfie Habershon
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