Press releases Archives

China’s Smartphone Sales Up 6% YoY in Q2 2024 as Demand Recovers

China’s smartphone market rises 6% YoY thanks to overall demand recovery.
vivo solidifies top spot driven by rich product portfolio and strong national distribution network.
Apple sees single-digit YoY decline despite increase in Pro series’ share.
Generative AI features now making their way into the mid-range, we expect this to tighten competition in Q3 as brands start update cycles on premium models.

Beijing, Boston, Fort Collins, Hong Kong, London, New Delhi, San Diego, Seoul, Taipei, Tokyo – July 26, 2024

China’s smartphone sales increased 6% YoY in Q2 2024, according to Counterpoint’s Market Pulse Service. The robust quarterly performance was in part driven by a 6.8% YoY increase in sales during the 618 shopping festival period held in June where customers enjoyed substantial offers. The Q2 2024 performance further confirms the recovery theme emerging in the world’s largest smartphone market and brightens the global outlook for 2024 smartphone sales.

Vivo maintained its top position in the Chinese smartphone market with an 18.5% share in Q2 2024, followed by Apple with 15.5% and Huawei with 15.4%. vivo not only retained the top position but also improved its product mix. The premium X series accounted for a bigger sales share than past years. The X100 Ultra, which offers a great photography experience, was added to the X series during the quarter.

Meanwhile, the iPhone 15 Pro and Pro Max accounted for about 50% of Apple’s sales in Q2 2024, higher than the 47% contributed by the iPhone 14 Pro and Pro Max in the year-ago quarter. This reflects Chinese iOS users’ strong preference for the Pro models as these variants offer better processing, photography and display.

Notes: OPPO includes OnePlus; Xiaomi includes Redmi; vivo includes iQOO; Figures may not add up to 100% due to rounding.
Source: Counterpoint Market Pulse Service.

Huawei’s sales jumped 44.5% YoY in Q2 2024, the fastest among OEMs in China, thanks to the Pura 70 series and Nova 12 series. However, Huawei’s market share of 15.4% during the quarter was still lower than the peak of about 30% it once achieved in 2020. Huawei renamed the P series to Pura and launched the Pura 70 in April 2024. The Pura series embodies the integration of aesthetics and technology, while emphasizing on strong photography performance.

OEMs updated their mid-end products in Q2 2024, including the vivo S19, OPPO Reno12 and HONOR 200. These products feature enhanced photography capabilities, especially for selfies and colorful back cover designs to attract female users.

OEMs have begun their AI marketing campaigns, leveraging generative AI features to differentiate their products in the premium and mid-end segments. A typical use case is eliminating unwanted objects in image backgrounds, which was a practical and well-received new camera feature. Counterpoint expects pioneering OEMs to deliver more generative AI-powered innovations to Chinese smartphone users in H2 2024.

China’s smartphone market performance in Q2 2024 further substantiates our single-digit YoY growth forecast for 2024. In Q3 2024, Chinese OEMs are expected to update their premium product lines, including bar-type and foldable models, which will further intensify competition in the market.

Background

Counterpoint Technology Market Research is a global research firm specializing in Technology products in the TMT industry. It services major technology firms and financial firms with a mix of monthly reports, customized projects and detailed analysis of the mobile and technology markets. Its key analysts are experts in the industry with an average tenure of 13 years in the high-tech industry.

Follow Counterpoint Research

press(at)counterpointresearch.com

Amdocs, IDEMIA Named Pacesetters in 2023 eSIM Orchestration Rankings

Thales, RedTea Mobile, LotusFlare, G+D, 1Global and 10TTech recognised as Leaders.
Valid, Moflix, Tata Communications, Tripica, Mobilise and Invigo emerged as Challengers.
Workz, Kigen, HPE and East Compeace categorized as Up-starters.

Seoul, Beijing, Buenos Aires, Hong Kong, London, New Delhi, San Diego, Taipei, Tokyo – July 17, 2024

Amdocs and IDEMIA have emerged as ‘Pacesetters’ from the Global eSIM Orchestration COmpetitive, Ranking, and Evaluation (CORE) evaluation, according to the 2023 edition of Counterpoint Research’s Global eSIM Landscape report.

Commenting on the eSIM provisioning rankings and the competitive landscape, Research Analyst Varun Gupta commented, “The eSIM industry is undergoing significant transition as more devices such as Smartphones, Smartwatches, Tablets and Laptops are coming with eSIM support. Apple recently launched its latest iPad Pro and iPad Air with eSIM-only support for cellular variant of the devices. Travel eSIM has emerged as a popular alternative for international travelers who are always on the go, providing seamless connectivity in most parts of the world. The demand for eSIM orchestration has rapidly increased as the industry shifts towards offering a fully digital experience for consumers. Device transfer has become a key use case for eSIM ecosystem players, driven by the growing adoption of eSIM-enabled smartphones, particularly in the North American market.”

Gupta further added, “We have analyzed and evaluated key companies in the eSIM value chain using our proprietary CORE framework, which maps active players according to their capabilities and success in the ecosystem. In this dynamic market environment, our evaluation criteria also changed, and we added multiple new criterion such as multi-tenancy, automation, support for MVNOs and others. The capability covers criteria such as SIM lifecycle management, BSS/OSS integration, Identity management, Analytics and support for Entitlement Servers while the ecosystem part covers criteria such as geographical reach, partnerships, and platform deployments. Parameters such as Analytics, Automation, Authentication and Entitlement Integration are increasingly becoming important for orchestration players to offer best capabilities through their platforms.”

Commenting on the research findings, Research Director Mohit Agarwal said, “Amdocs and IDEMIA emerged as Pacesetters in Counterpoint’s rankings for eSIM Orchestration. These two companies stand out from the rest of the market and demonstrate excellence in both capability and ecosystem parameters. On the capability side, Amdocs emerged as the best player with a very comprehensive all-round platform and a host of features for carriers and consumers. On the ecosystem side, Amdocs again emerged as the top player. Idemia came close due to its high number of partnerships in the ecosystem and higher platform deployments.”

Thales, RedTea Mobile, G+D, LotusFlare, 1Global and 10T Tech have emerged as Leaders in the eSIM provisioning market. Most of these players have significantly improved their orchestration platform offerings by adding the latest features. 10T Tech and RedTea Mobile showed the highest growth in enhancing their reach in the ecosystem. Thales improved a lot on the capability side along with G+D, as the traditional SIM players added a new set of features and partnerships to improve their offerings.

Tata Communications (Oasis Smart SIM), Valid, Tripica, Moflix and Invigo have emerged as Challengers, offering very capable platforms with strong features. While they have not yet achieved the desired market presence, their impressive capabilities position them well for future growth and increased market impact. Invigo is one of the players that improved the most overall compared to last year’s rankings.

Workz, HPE, Kigen and Eastcompeace are the Up-starters of 2023, as they saw strong success in expanding their ecosystems through more partnerships and platform deployments. They are likely to grow and be part of the Leaders as they work on improving the capabilities of their platforms.

Due to their specialization in specific market segments, 1oT and Nordic eSIM are categorized as niche players. Counterpoint believes that these companies have the potential to capitalize on emerging opportunities and evolve into Challengers and Leaders as they expand into more markets.

Counterpoint Research’s Global eSIM Landscape report is the most comprehensive report involving all the leading players in the eSIM ecosystem with multiple interviews and research spanning more than three months.

The comprehensive and in-depth ‘Global eSIM Landscape Report, 2023’ is available for subscribing clients. Please contact Counterpoint Research to gain access to the report.

Background

Follow Counterpoint Research

press(at)counterpointresearch.com

Global PC Market Warms Up in Q2 2024, Ahead of Upcoming AI PC Boom in H2

Global PC shipments grew 3.1% YoY in Q2 2024; AI PCs remain the most popular topic in PC industry.
Apple is waiting for the M4 MacBook launch to regain shipment momentum.
Arm-based AI laptops will be another driver for Arm PCs and will capture more than 25% market share in 2027.
We reiterate a ~3% YoY shipment growth forecast for 2024, driven by AI PC and replacement demand.

Seoul, Beijing, Buenos Aires, Hong Kong, London, New Delhi, San Diego, Taipei, Tokyo – July 16, 2024

Global PC shipments grew 3.1% YoY in Q2 2024 to reach 62.5 million PC device units, the market’s second consecutive quarterly YoY growth in shipments, according to Counterpoint’s preliminary data. The growth, which was driven by a moderate replacement cycle and a low base YoY, highlights the global PC market’s continued recovery momentum in 2024. AI PCs remain the most popular topic in the PC industry. Laptops with Qualcomm’s Snapdragon X platform have begun to trigger the first wave of the AI laptop boom. The upcoming AMD Ryzen AI 300 and Intel Lunar Lake in the second half of Q3 2024 will further drive the popularity of AI PCs.

Despite a lull in demand in China, Lenovo remained the leader among PC vendors, leaving the June quarter with a 23.6% market share and ~4% YoY shipment growth. HP and Dell were relatively flat in the quarter, supported by order recovery in North America. HP had a 21% market share in Q2 2024, while Dell had 16%. Apple remained quiet in the latest quarter with an 8.5% market share. The company is waiting for the launch of the next-generation M4-based MacBook to regain shipment momentum in late 2024. Overall, we see Q2 2024 brand rankings and shares largely unchanged.

AI laptops will expand the AI PC market in H2 2024, driven especially by surging Windows on Arm AI devices at the end of Q2 2024. These Qualcomm Snapdragon-based solutions feature better battery efficiency than the dominating x86 camp. In our view, MediaTek and NVIDIA’s partnership on next-generation Arm-based AI laptop solutions will also be another driver to Arm PC market share expansion in 2025-2026 at the expense of x86 vendors. We project Arm PCs to capture more than 25% market share in 2027.

Commenting on AI PC development, Senior Analyst William Li said, “H2 2024 will be the battlefield for AI PCs. Vendors are paving the way for the proliferation of AI PCs and the rise of a brand-new technology generation. However, due to the higher selling price of AI PCs, we believe enterprise (commercial) demand will run ahead of the mainstream consumer sector, although we may not see the most rapid adoption path in the first year of AI PCs. As more AI use cases and solutions are developed and applied to PCs, we will see the deployment accelerate in the future. Benefitting from AI PC demand and the replacement cycle after COVID-19, we reiterate our view of ~3% PC shipment growth in 2024.”

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.

Follow Counterpoint Research

press(at)counterpointresearch.com

Global Smartphone Market Grew 6% YoY in Q2 2024; Highest YoY Growth in Last 3 Years

Global smartphone sell-through grew YoY for the third consecutive quarter in Q2 2024, continuing its recovery from the weakest year in a decade.
Smartphone sell-through grew 6% YoY in Q2 2024, the highest YoY growth since Q2 2021. Almost all regions showed YoY growth.
The top five brands remained the same as in earlier quarters. Samsung retained the #1 spot, Apple declined marginally YoY and Xiaomi grew the fastest among the top-five OEMs. vivo took the top spot in the world’s two biggest smartphone markets – China and India. OPPO narrowly followed vivo, rounding out the top five.
The cumulative share of the top five brands came down slightly as they faced pressures from the next five, mainly Huawei, HONOR, Motorola and TECNO. Motorola, which has been expanding presence, achieved its highest-ever volume share in a decade.

Seoul, Beijing, Buenos Aires, Hong Kong, London, New Delhi, San Diego, Taipei, Tokyo – July 15, 2024

Global smartphone sell-through volumes grew 6% YoY in Q2 2024 to record the highest YoY growth in last three years, according to preliminary numbers from Counterpoint Research’s Smartphone 360 Monthly Tracker. Also, this was the third consecutive quarter of market growth, driven by improving consumer sentiment and macroeconomic factors.

The Europe and Latin America (LATAM) markets grew the fastest in Q2 2024, both recording high double-digit YoY growth numbers, as consumer sentiment and purchasing activity continued to improve compared to 2023 levels. In China, Huawei’s comeback and an early start to the 618 shopping festival ensured the continuation of gradual recovery. Emerging markets, especially in LATAM and Asia, performed better than mature markets.

Source: Counterpoint Research Market Pulse Early Look, June 2024

Commenting on the global smartphone market’s dynamics, Research Director Tarun Pathak said, “The growth in smartphone sales over the last three quarters is good news for the industry. The sales were at the lowest point in a decade in 2023 but the market was quick to rebound thanks to improving consumer sentiments and inventory positions. Almost all markets exhibited signs of growth and we remain optimistic for upcoming quarters. Brands were quick to react to the growing consumer demand and refreshed their portfolios to entice customers further. We are seeing increased proliferation of several features such as CMF (Color-Material-Finish), high-megapixel cameras and 5G into lower price bands, which is further expected to fuel demand. We remain optimistic on future quarters and expect the market to show 4% growth in 2024.”

The top five brands remained the same as in earlier quarters. Samsung retained the top spot in Q2 2024, helped by strong sustained sales of the AI-focused Galaxy S24 series and an early refresh of the popular Galaxy A series, whose models emerged as the bestsellers in entry-level to mid-price bands. Samsung also led the sales of GenAI-capable Android smartphones and is expected to further capitalise on it with its new-generation foldables.

Apple’s global sales remained flat but recorded strong YoY growth in Europe and Latin America, which compensated the low upgrade rates in the US and share loss in China following Huawei’s rise. However, Apple saw improvement in sales in China during the 618 shopping festival where it offered attractive discounts. In H2, the new iPhones with Apple Intelligence are expected to drive upgrade demand.

Xiaomi was the fastest growing top-five brand in Q2, growing 22%. The popularity of the Redmi 13 and Note 13 series coupled with a leaner product portfolio and a stronger premium push helped Xiaomi gain a net ~2% share YoY in Q2. vivo also outperformed the market and took the top spot in the world’s two biggest smartphone markets – China and India – in Q2. OPPO, coming close behind vivo, rounded off the top five. OPPO is focusing on increasing profitability, including by launching more devices in the mid-to-higher-price bands to align its strategy with premiumisation. This choice may result in challenges in market shares in the short term but can lead to better profitability for the brand.

The cumulative share of the top five brands came down YoY in Q2 due to pressure from surging brands like Huawei, HONOR, Motorola and Transsion group brands. On the other hand, the share of top 10 brands touched nearly ~90%, pointing towards market consolidation and intensive competition among the top 10. While Huawei has made significant gains in China, HONOR and TECNO have been expanding to more regions. Motorola has gained quickly across regions to move up two ranks from last year and reach its highest ever quarterly global smartphone market share in a decade.

Commenting on the new normal in the global smartphone market, Senior Analyst Ankit Malhotra said, “The global smartphone market has entered a new era – one of slow and steady volume growth driven largely by replacement cycles and is now a zero-sum game between OEMs. We expect smartphone volumes to grow slowly in coming years, However, we expect revenues to grow faster than sales driven by the premiumization across regions, especially with the rise of newer form factors and capabilities, like foldables and GenAI.”

Background

Follow Counterpoint Research

press(at)counterpointresearch.com

5G, 5G RedCap to Dominate Automotive Connectivity by 2030

Shipments of automotive NAD modules for connectivity in vehicles to exceed cumulatively 700 million units from 2020 to 2030.
By the end of this decade, more than half of the vehicles shipped will embed 5G capability, driven by centralized architectures, digital cockpits and autonomous capabilities (ADAS L3+).
Qualcomm will remain the leader in automotive connectivity, capturing about half of the market by the end of this decade, while MediaTek will gain share in the near-term with its early mover advantage in automotive 5G RedCap chipsets.

Beijing, London, New Delhi, Jakarta, Boston, Toronto, Taipei, Seoul – July 11, 2024

The global automotive connectivity module and chipset market is projected to grow at a 13% CAGR between 2020 and 2030, with NAD module shipments set to exceed 700 million through the decade, according to the latest research from Counterpoint’s Global Automotive NAD Module and Chipset Forecast.

Commenting on the projected growth in connected vehicles, Research Analyst Subhadip Roy said, “We are now entering the Automotive 2.0 era, characterized by significant transformation across drivetrain (electrification), safety and mobility (autonomy), cockpit and infotainment (digital), all powered by a single thread of advanced connectivity enabling Software Defined Vehicles (SDV). Advanced 5G connectivity will catalyse this transformation with higher bandwidth, capacity and lower latency, enabling features such as real-time Battery Management Systems (BMS), the whole gamut of location-based services integrated with HD/AD maps and streaming infotainment. It will also enable low-latency C-V2X and data, sensor-assisted autonomous driving.

Roy added, “Currently, 4G Cat 4 access technology dominates the NAD module market, meeting the speed requirements of OEM telematic applications. However, with the growing need for next-generation SDVs, 5G will become the dominant technology for L3+ ADAS/ADS cars while 5G RedCap will replace 4G Cat 4 for L2 ADAS and below connected vehicles, mainly focusing on OEM telematics and light streaming infotainment.”

Commenting on the regional dynamics shaping the adoption of SDVs, Senior Analyst Parv Sharma said, “China has been at the forefront of the SDV era starting with electrification and digital cockpit as well as enabling autonomy features in most new vehicles. This adoption and scale have not only benefited China but the entire automotive value chain. For example, China contributed to nearly one-third of the total NAD module shipments in 2023 and eight out of every 10 vehicles shipped in the country were connected, which is estimated to reach 100% penetration in passenger cars by 2028. China also leads in terms of 5G adoption. 20% of the total NAD modules shipped within the country in Q1 2024 were 5G capable. Comparatively, outside of China, the penetration of cellular-connected NAD modules was close to 66% in 2023 and is expected to grow in the coming years.”

Commenting on key vendor dynamics, Sharma added, “Qualcomm leads the automotive connectivity chipset market and will maintain its leadership through 2030 with good traction within China as well as outside. MediaTek has expanded its share to rank second, despite a wide margin with Qualcomm. The company is expected to gain share helped by its growing pipeline with Dimensity Auto and 5G RedCap for automotive solutions. The share of Chinese chipset vendors HiSilicon, UNISOC, ZTE, ASR and others, is steadily growing due to local partnerships with NAD module and TCU vendors along with growth in emerging markets. Competition among the NAD module vendors is also shaping up nicely despite consolidation of the market over the years. Quectel, Rolling Wireless (along with Fibocom-Favalon) and LG continue to command the lion’s share of the NAD module market. Continental, Harman, WNC, AM Telecom and others will continue to grow steadily through specific partnerships and customer relationships in targeted geographies.”

For detailed research, refer to the following reports available for subscribing clients and individual subscription:

Background

Follow Counterpoint Research

press(at)counterpointresearch.com

Over 9 Billion eSIM-capable Devices to be Shipped by 2030

By 2030, nearly 70% of all cellular devices shipped will be eSIM/iSIM-capable driven by smartphones and cellular IoT modules.
eSIM/iSIM-capable devices are expected to grow at a CAGR of 22% between 2024 and 2030.
The installed base of xSIM-capable consumer devices is expected to exceed 2.5 billion units by 2030.
iSIM-capable devices will grow fastest, with shipments rising at a CAGR of 160% between 2024 and 2030.

Seoul, Beijing, Boston, Buenos Aires, Hong Kong, London, New Delhi, San Diego, Taipei, Tokyo – July 4, 2024

Global xSIM-capable device shipments will exceed 9 billion units between 2024 and 2030, growing at a 22% CAGR during the period, according to Counterpoint’s latest eSIM Devices Market Outlook report. The projection includes all form factors, including hardware-based eSIM (eUICC), iSIM (iUICC), nuSIM and Soft SIM.

The industry has moved past an inflection point after the release of the US-exclusive eSIM-only iPhone in 2022 and is now entering a period of hyper growth. This is evidenced by the growing number of OEMs launching eSIM-capable devices. Currently, smartphones have the highest eSIM adoption rate on the consumer side. However, categories such as Connected Cars, Gateways and Routers and Drones, where physical SIMs can be very difficult to manage, stand to greatly benefit from eSIM or iSIM-based connectivity. In the long run, xSIM will become the default form factor for these industries.

Source: Global eSIM Landscape – Market Outlook and Forecast

The increasing adoption of this technology among global mobile network operators (MNOs) also support this hypothesis. Over 400 operators now support eSIM services globally, enabling an average of more than 50 consumer devices.

Commenting on eSIM’s high growth future across industries, Research Analyst Siddhant Cally said, “Key ecosystem players have started preparing to deploy eSIM beyond their flagship devices into mid-tier segments. The new eSIM-only iPad is another sign indicating that the future is eSIM. Other use cases such as Travel and Roaming will also greatly help in increasing eSIM adoption in the short term.”

By 2030, we expect iSIM-capable devices to account for a significant portion of the cellular device ecosystem. Commenting on iSIM’s expected high growth, Senior Analyst Ankit Malhotra said, “These are still very early days for iSIM. However, we expect iSIM adoption to pick up steam in the next three years. The technology has the potential to bring more efficiency to devices by lowering costs, size and complexity. This makes it ideal for use in a wide range of IoT applications, from smart home devices to industrial sensors.”

The comprehensive and in-depth report ‘Global eSIM Landscape’ is now available. Please contact Counterpoint Research to gain access to the report.

Click here to read about eSIM Enablement, eSIM Provisioning and eSIM Orchestration.

Background

Counterpoint Technology Market Research is a global research firm specializing in products in the technology, media and telecom (TMT) 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.

Follow Counterpoint Research

press(at)counterpointresearch.com

BEV Sales to Hit 10 Million in 2024; Hybrids Growth to Beat BEVs, ICE to Decline

BEV milestone: BEV sales will hit the 10-million milestone in 2024 on the resumption of long-term decline for ICE vehicles, whose market share is projected to drop below 50% in four years.
Regional Insights and Market Dynamics: China will dominate BEV sales with over 50% global share until 2027. Its share will decline gradually but will still surpass the combined sales of North America and Europe in 2030. Major growth in Europe and the US will start in 2025.
BYD vs Tesla: BYD’s BEV sales will surge and overtake Tesla’s in 2024.
Hybrid vehicle dominance: Hybrid vehicles (PHEVs and HEVs) will dominate the electric segment in the near term.

Seoul, Beijing, Boston, Buenos Aires, Hong Kong, London, New Delhi, San Diego, Taipei, Tokyo – July 2, 2024

According to Counterpoint’s Global Passenger Vehicle Forecast by Powertrain, Battery electric vehicles (BEVs) are set to hit the 10-million milestone in 2024, marking a significant achievement for the global passenger vehicle market. This milestone will coincide with the resumption of long-term decline for internal combustion engine (ICE) vehicles, whose market share is projected to drop below 50% in four years.

Despite a temporary slowdown in 2024, BEV sales are expected to continue growing as traditional automakers tackle profitability challenges. The growth will be supported by the revamping of production processes and strategic partnerships with battery manufacturers, aimed at lowering manufacturing costs, producing affordable EVs, and bolstering supply chains.

On the shift to EVs, Research Analyst Abhik Mukherjee said, “By revamping supply chains and preparing to produce affordable EVs priced below $35,000, automakers like Ford, GM, Stellantis and Volkswagen are positioning themselves to compete with market leaders. This strategic overhaul aims not only to meet stricter emission regulations but also to capitalize on evolving subsidies and growing consumer demand, revitalizing the global BEV market starting from the end of 2025.”

China remains a dominant force in the BEV market, with its BEV sales projected to be four times that of North America in 2024. Besides, China will maintain more than 50% share of the global BEV sales until 2027 and is expected to register more BEV sales than North America and Europe combined in 2030. From 2025, Europe and the US will start emerging as major growth drivers.

BYD’s BEV market share is set to surge in 2024, the year it is expected to overtake Tesla in BEV sales. This shift underscores the dynamic nature of the global EV market.

Commenting on the EU’s new tariff rates, Associate Director Liz Lee said, “The EU’s new tariff rates for Chinese EVs aim to level the playing field for European EV manufacturers, which are struggling to compete with lower-priced Chinese imports. These tariffs might push Chinese automakers towards emerging markets like the Middle East and Africa, Latin America, Southeast Asia, Australia and New Zealand. The outcome of EU-China talks, especially with Germany’s opposition, will shape future EV market dynamics, with Europe and the US driving growth from 2025 onwards.”

With traditional automakers navigating the shift towards EVs, hybrid vehicles, including plug-in hybrid electric vehicles (PHEVs) and hybrid electric vehicles (HEVs), will continue to dominate the electrified segment in the near term. To meet stringent fleet emission standards, automakers are promoting PHEVs and HEVs until they achieve cost-effective BEV manufacturing processes and secure robust control over the supply chain. This strategy aligns with broader industry efforts to streamline the transition to electric mobility, which necessitates significant investments in charging infrastructure and grid restructuring.

*Notes:

Sales here refer to wholesale figures, i.e. deliveries out of factories by respective brands.

EVs here include battery EVs (BEVs) and plug-in hybrid EVs (PHEVs).

You can also visit our Data Section (updated quarterly) to view the Global EV market shares.

Background

Follow Counterpoint Research

press(at)counterpointresearch.com

Domestic Players Fuel China TCU Sales Growth in Q1 2024; LG Remains Market Leader

TCU sales in China grew 9% YoY in Q1 2024, driven by double-digit growth of key domestic players.
China continued to lead global TCU sales with a 32% share, a flat YoY growth in market share.
Advanced infotainment and safety features are driving the increasing connectivity demand among users.
China remained the 5G TCU leader with an 89% market share globally, driven by the diverse 5G products launched by the country’s TCU players.
Neusoft led among the domestic players, but Huawei witnessed the highest growth (45% YoY) among the top five TCU players.

Beijing, Buenos Aires, Hong Kong, London, New Delhi, San Diego, Seoul, Taipei, Tokyo – June 27, 2024

Telematics Control Unit (TCU) or T-box sales* in China grew 9% YoY in Q1 2024, according to Counterpoint’s Global Telematics Control Unit Tracker. This growth was mainly driven by the increasing sales of key local players. Globally, China continued to lead TCU sales with a market share of 32%. Although its TCU sales increased, China’s global market share remained almost flat compared to Q1 2023.

Research Analyst Shaochen Wang said, “Advanced infotainment and safety features are driving the increasing connectivity demand among users. High-level assisted/autonomous driving, C-V2X, smart cockpit (multi-screen interaction and AI-supported voice control), over-the-air updates and other software-defined features are becoming increasingly important for the modern vehicle. All these require stable and fast connectivity, which drives the adoption of TCUs.”

LG maintained its top position in the Chinese market in Q1 2024 with a 17.9% share, followed by Valeo and Neusoft. Local T-box players like Neusoft, Huawei and BYD saw good YoY growth compared to global brands like LG and Valeo. Huawei saw the highest YoY growth of 45% as the company strives to grow its automotive business.

Research Analyst Abhilash Gupta said, “The demand for 5G TCUs, which provide high speed and low latency, is increasing gradually to satisfy new advanced mobility use cases. China remains the leader in 5G T-box with an 89% market share globally, driven by diverse 5G products launched by the country’s TCU players. Currently, 4G dominates the T-box sales with around 90% share.”

Commenting on the market outlook, Senior Analyst Parv Sharma said, “Currently, connected car penetration in China is over 80%, and we expect every car sold by 2028 will have embedded connectivity. 5G penetration is expected to surpass 90% by the end of this decade due to the need for advanced connectivity in modern vehicles.”

Sharma added, “Local TCU players hold nearly 57% of China’s T-box market. International TCU players may face challenges in China due to price competition and OEMs’ efforts to build an in-house ecosystem with the help of local supply chain players. Chinese TCU players are also expanding their international presence alongside the rise of Chinese EV manufacturers in the global market. BYD stands to benefit the most by supplying its own vehicles, while Neusoft will secure a significant share due to its strong partnerships with Geely, Great Wall Motor and FAW.”

*Sales here refer to wholesale figures, i.e. deliveries from factories by respective brands. The analysis covers cars with embedded TCU. Aftermarket TCUs are out of the scope of this study.

The comprehensive and in-depth ‘Global Telematics Control Unit Tracker, Q1 2024’ and ‘Global Telematics Control Unit Forecast, Q1 2024’ are now available for purchase at report.counterpointresearch.com.

Feel free to reach us at press@counterpointresearch.com for questions regarding our latest research and insights.

Background

Follow Counterpoint Research

press(at)counterpointresearch.com

China’s Smartphone Sales Grew 6.8% YoY During 618 Period in 2024

China’s smartphone sales grew 6.8% YoY during the 618 festival when compared to same period last year.
This year, price discounts offered by most OEMs were similar to last year’s.
Huawei was the big winner with a 42.4% YoY increase in sales, driven by continued demand for its new 5G products.
vivo and Xiaomi also performed better, both seeing double-digit growth compared to last year.
Apple’s sales grew 2.7% YoY, benefiting from stronger promotions and an extra week of sale prices compared to 2023.

Beijing, Buenos Aires, Hong Kong, London, New Delhi, San Diego, Seoul, Taipei, Tokyo – June 25, 2024

China’s smartphone sales grew 6.8% YoY during Week 21 to Week 24 of 2024, the period corresponding to the 618 shopping festival, according to Counterpoint’s China Smartphone Weekly Model Sales Tracker. Most OEMs were offering price discounts that were similar to last year’s, indicating a demand warm-up. Notably, this year’s 618 festival, spanning from May 20 to June 20, lasted longer than usual as promotions started on May 20 at Tmall. In 2023, the 618 period was from May 31 to June 18. This extended promotional period also contributed to the growth this year.

Huawei was the big winner during the 618 period with a 42.4% YoY increase in smartphone sales. This was primarily due to continued demand for its new 5G products. Despite offering the smallest price discounts among major OEMs, Huawei’s products, such as the Mate 60 series and Pura 70 series, were still in high demand.

vivo was the second-best performer with an over 12.6% YoY increase. It launched the high-end X100s series, affordable Y200 series and mid-range iQOO Neo 9s Pro before the event and the mid-range S19 series during the event. This helped boost its sales during the period.

Xiaomi‘s sales grew by nearly 12.6% YoY, primarily due to discounts of up to RMB 1,000 (~$139) offered during the period and increased sales of its mid-to-high-end phones. Among Xiaomi models, the Redmi K70 was its bestseller during this period.

HONOR’s sales witnessed a 4.3% YoY increase. Apart from generous price cuts, HONOR launched the mid-end HONOR 200 series during the 618 period. Popular value-for-money products such as the HONOR X50 also contributed significantly to this growth.

Apple’s sales grew 2.7% YoY, benefiting from stronger promotions and an extra week of sale prices compared to 2023. The brand offered the biggest-ever discounts, reaching up to RMB 2,350 (~$326), during the period to entice consumers, especially given the strong competition from Huawei in the premium segment.

Given the recovery of China’s smartphone market since the start of this year, we believe it will see a low single-digit YoY growth in 2024.

Background

Follow Counterpoint Research

press(at)counterpointresearch.com

Top

Insights Category: Press releases

China’s Smartphone Sales Up 6% YoY in Q2 2024 as Demand Recovers

Related Posts

Amdocs, IDEMIA Named Pacesetters in 2023 eSIM Orchestration Rankings

Related Posts

Global PC Market Warms Up in Q2 2024, Ahead of Upcoming AI PC Boom in H2

Related Posts

Global Smartphone Market Grew 6% YoY in Q2 2024; Highest YoY Growth in Last 3 Years

Related Posts

5G, 5G RedCap to Dominate Automotive Connectivity by 2030

Related Posts

Over 9 Billion eSIM-capable Devices to be Shipped by 2030

Related Posts

BEV Sales to Hit 10 Million in 2024; Hybrids Growth to Beat BEVs, ICE to Decline

Related Posts

Domestic Players Fuel China TCU Sales Growth in Q1 2024; LG Remains Market Leader

Related Posts

China’s Smartphone Sales Grew 6.8% YoY During 618 Period in 2024

Related Posts

Coverage

Insights

Social media

Contact us

Top

Related Posts

Related Posts

Related Posts

Related Posts

Related Posts

Related Posts

Related Posts

Related Posts

Related Posts

Coverage

Insights

Social media

Contact us

Term of Use and Privacy Policy