China

China’s Smartphones Shipments Slide in Q3 as Demand Falters

 

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

 

 

Read more:

Foxconn Sees Slow Quarter As Smartphone Demand Declines

China’s Smartphone Sales Slump to Lowest Level Since 2012

Apple Defers Plan to Use China’s YMTC Chips – Nikkei

 

 

 

Alfie Habershon

Alfie is a Reporter at Asia Financial. He previously lived in Mumbai reporting on India's economy and healthcare for data journalism initiative IndiaSpend, as well as having worked for London based Tortoise Media.

Recent Posts

China Services Activity Jumps in January as Covid Curbs End

China's dropping of travel curbs resurrected services activity in January for the first time in five…

10 mins ago

China to Build Antarctica Ground Stations for Ocean Satellites

The China Aerospace Science and Technology Group is to build the $6.53 million stations amid…

14 hours ago

China Battery Firm CATL Seen Eyeing $5bn Swiss Listing Boost

The global depositary receipts listing could even see CATL raise $8 billion if market conditions…

16 hours ago

Xpeng Secures Key Permit to Launch ‘Flying Car’ – TechCrunch

The 'special flight permit' from the Civil Aviation Administration of China will allow the Xpeng…

19 hours ago

Paris Club Seen Giving Sri Lanka Support for IMF Bailout

The Paris Club of creditor nations is ready to provide financing assurances for Sri Lanka,…

19 hours ago

China Needs Tech Self-Reliance to Avoid Being Strangled: Xi – SCMP

President Xi Jinping warned this week that China must speed up moves to become self-reliant…

20 hours ago