China’s smartphone sales fell 14.2% on year in Q2 to hit decade low – research
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China’s smartphone sales fell 14.2% on year in Q2 to hit decade low – research
STOCKS

China’s smartphone sales fell 14.2% on year in Q2 to hit decade low – research

 

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Chinese smartphone sales in declined by 14.2% in the second quarter from a year earlier to hit a decade low, Counterpoint Research said on Wednesday. The sales volumes were 12.6% lower than the first quarter of 2020, when the pandemic hit China and sales were the worst since the fourth quarter of 2012, according to Counterpoint.

Sales for the top brands all contracted on year-over-year basis over the quarter, with the exception of Honor, which was spun off from Huawei Technologies in 2021.

Honor’s share of the market surged to 18.3% from 7.7%, making it the second-best selling player, behind vivo. “Honor’s coverage in lower-tier cities, which saw fewer lockdowns, helpd the brand steer through the turbulence in Q2 2022,” said Counterpoint.

Apple Inc ranked as the fourth top-selling brand, with a market share of 15%. The iPhone maker’s quarterly sales volumes dropped 5.8%, a smaller blow compared with Oppo, Xiaomi, and vivo.