Singles’ Day 2024: China Smartphone Sales Decline Amid Economic Slowdown
Overview: China’s smartphone sales during the 2024 Singles’ Day festival (Weeks 44-45) fell 9% YoY as subdued market demand amid economic headwinds dampened consumer enthusiasm for promotions, according to Counterpoint’s China Weekly Smartphone Sales Tracker.
Smartphone brands adjusted their strategies this year by launching new flagship models ahead of Singles' Day, except for Huawei. This contrasts with last year, when only Xiaomi launched its flagships early. However, the earlier release of new models this year also weakened the sales of older ones to some extent.
During this year’s Singles’ Day period, Huawei stood out as the best performer while Apple was the worst performer in terms of YoY growth.
Table of Contents:
- Overall performance
- Week-over-week performance
- Brand-level performance
- Market dynamics
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Author
Mengmeng Zhang
Mengmeng Zhang is a Senior Research Analyst who is tracking Mobile and Telecom at Counterpoint Technology Market Research.
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