The China market, which continued to be impacted by sluggish demand, had the 618 shopping festival, while overseas markets still struggled with high inflation. Seeing the markets' status, China-based smartphone brands were conservative about their shipments in the second quarter and maintained low channel inventory.
In the second half of 2023, China-based smartphone vendors are expected to step up their inventory preparation ahead of Singles' Day in China. Moreover, with overseas markets entering the strong season, smartphone shipments by China-based vendors are estimated to exhibit a single-digit growth consecutively for two quarters straight.
China-based smartphone vendors shipped a total of 143 million smartphones in second-quarter 2023. The top-3 brands were Oppo, Xiaomi, and Vivo, each enjoyed a single-digit sequential shipment growth and together contributed 61.6% of all the volumes in the quarter, smaller than their combined share of 63.9% seen a quarter ago. The decline in their share was due to an even larger sequential increase in the combined shipments by Honor, Huawei, Transsion, Lenovo, and all other vendors.
