The Chinese smartphone market grew by 6.5% in Q1,2024 thanks to robust demand for Huawei and Honor devices. The IDC quarterly mobile phone tracker shows an estimated total of 69.3 million smartphones were shipped in the first three months of the year, led by Honor and Huawei. The two companies are neck and neck for the leading position with each controlling a 17% share of the market.
Huawei’s market share growth is impressive with a 110% rise compared to Q1 2023. The drive was pushed by the New Lunar Year shopping spree in the low and midrange segments and the AI buzz in the premium device category. Honor led the way thanks to strong demand for its Magic6 series. Huawei had a strong return in the smartphone market. Oppo came in third place with 15.7% market share but it was also the biggest mover in the top-three with a 15.5% negative growth.
IDC Quarterly Mobile Phone Tracker. 2024Q1
Apple came in fourth place with a 15.6% share as demand for iPhones plummeted despite offering the iPhone 15 at a discount. Vivo rounded out the top five with a 14.6% market share. The proximity of the top 5 brands shows that Chinese consumers are brand-averse and are likely to change between brands when shopping for a new phone.