With overseas markets gradually stepping out of the slow season and domestic demand robustly driven by promotion campaigns launched for the 618 shopping festival, China-based smartphone brands as a whole enjoyed a sequential growth of 2.7% in worldwide shipments in the second quarter of 2024, according to DIGITIMES Research.
The shipments went up 14.4% on year thanks to a low comparison base in the same quarter a year ago. Owning to overseas markets entering the traditional strong season and Chinese brand vendors launching new promotions for Singles' Day in November for the domestic market, their combined smartphone shipments worldwide are expected to rise sequentially in both quarters of the second half.
China-based smartphone vendors shipped a total of 167.2 million smartphones in the second quarter of 2024. Regarding market concentration, the top-3 brands – Xiaomi, Oppo, and Vivo – together experienced a sequential shipment growth weaker than that of Transsion, Honor, Lenovo, and Huawei combined. As a result, the combined shipment share of the top-3 brands decreased to 57.8%, down from first-quarter 2024's 58.9%.
Table 1: Key factors affecting the 2Q24 & 2H24 China smartphone industry: Supply
Table 2: Key factors affecting the 2Q24 & 2H24 China smartphone industry: Demand
Chart 1: China smartphone industry shipments, 2Q23-4Q24 (m units)
Chart 6: China smartphone industry's export shipments, 2Q23-4Q24 (m units)
Chart 7: Export shipments by Chinese vendor, 2Q23-4Q24 (m units)
Chart 9: China smartphone industry shipments, 2020-2024 (m units)
