• Growth: China’s YoY smartphone unit sales grows 5% during two-week 11.11 sales period
• Drivers: Huawei, Xiaomi and Honor continue to ride strong growth momentum from October
• Drivers: Pent up demand provides steady demand through extended sales period
• Expectations: Despite earlier promotions by e-commerce platforms, like-for-like weekly sales growth highlights stronger, more resilient demand than last year

Beijing, Hong Kong, Seoul, Boston, New Delhi, London – November 23, 2023

Smartphone unit sales in China during this year’s two-week Singles Day sales event grew by 5% YoY, providing more confidence for a positive fourth quarter.

“This is a good start to the rest of the quarter,” says Mengmeng Zhang, senior analyst for China.  “Huawei is continuing its strong run along with Xiaomi, which is enjoying a further spike in sales with the launch of its new 14 series devices.”

China Singles Day 2023 Smartphone Sales Share and YoY Growth

Source: Counterpoint Research Smartphone 360 Weekly Tracker, China. (*2022 spans Oct 31 – Nov 13; 2023 spans Oct 30 – Nov 12.)

Huawei’s success and climb in the rankings has been helped by the recent launch of its Mate 60 series 5G phones and popularity of its older P-series 4G devices.  “The company is posting some very good growth numbers, but obviously there’s base effects happening,” notes China analyst Archie Zhang.  “We expect it will grow by more than half this year, but that still doesn’t bring them close to pre-COVID levels. But it’s signalling a promising 2024.”

“Apple is improving compared to last month but there still seems to be hiccups in terms of supply,” observes Ivan Lam, senior analyst for manufacturing.  “But considering last November’s supply snafu was an anomaly, the YoY numbers could move into positive territory as current supply tightness normalizes.”

Background

Counterpoint Technology Market Research is a global research firm specializing in products in the TMT (technology, media and telecom) industry. It services major technology and financial firms with a mix of monthly reports, customized projects and detailed analyses of the mobile and technology markets. Its key analysts are seasoned experts in the high-tech industry.

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