According to statistics and analysis by DIGITIMES Research, overseas markets entered their peak season in the third quarter of 2024, leading to a 4.8% quarter-on-quarter increase and a 7.5% year-on-year increase in overall smartphone shipments worldwide by Chinese brands.
In the fourth quarter of 2024, overseas market demand is expected to continue rising, and with the Single's Day shopping festival promotions in China, it is anticipated that Chinese brands' smartphone shipments will continue to grow quarter-on-quarter.
Observing the shipments by brand tiers, the combined quarterly growth of the top three brands - Xiaomi, Oppo, and Vivo - exceeded that of Transsion, Honor, Lenovo, and Huawei, the number 4-7, combined. As a result, the market share of the top three brands increased to 58.2%, up from 57.8% in the previous quarter.
Table 1: Key factors affecting the 2H24 China smartphone industry: Supply
Table 2: Key factors affecting the 2H24 China smartphone industry: Demand
Chart 1: China smartphone industry shipments, 3Q23-4Q24 (m units)
Chart 6: China smartphone industry's export shipments, 3Q23-4Q24 (m units)
Chart 7: Export shipments by Chinese vendor, 3Q23-4Q24 (m units)
Chart 9: China smartphone industry shipments, 2020-2024 (m units)
