The Chinese smartphone market experienced a 6.5% growth in Q1 2024, mainly due to the strong demand for Huawei and Honor devices. According to the IDC quarterly mobile tracker, an estimated total of 69.3 million smartphones were shipped in the first three months of the year, with Honor and Huawei leading the pack, each commanding a 17% market share.
Huawei’s market share growth is impressive, showing a 110% increase compared to Q1 2023. This surge was fueled by the New Lunar Year shopping spree in the low and mid-range segments, as well as the buzz around AI technology in the premium device category. Honor’s success can be attributed to the strong demand for its Magic6 series. Huawei made a strong comeback in the smartphone market. Oppo secured third place with a 15.7% market share, although it experienced the largest change in the top three brands with a negative growth of 15.5%.
IDC Quarterly Mobile Phone Tracker. 2024Q1
Apple followed in fourth place with a 15.6% market share, experiencing a decline in demand for iPhones even with the discounted iPhone 15. Vivo rounded out the top five with a 14.6% market share. The close competition among the top 5 brands indicates that Chinese consumers are not brand-loyal and are likely to switch between brands when purchasing a new phone.