Domestic Smartphone Market Shows Strong Growth, Shipments Surge Over 30% Year-on-Year in July

Domestic Smartphone Market Shows Strong Growth, Shipments Surge Over 30% Year-on-Year in JulyThe China Academy of Information and Communications Technology (CAICT) released its report on the domestic smartphone market performance in July 2024 on August 28. The report shows that domestic smartphone shipments reached 24

Domestic Smartphone Market Shows Strong Growth, Shipments Surge Over 30% Year-on-Year in July

The China Academy of Information and Communications Technology (CAICT) released its report on the domestic smartphone market performance in July 2024 on August 28. The report shows that domestic smartphone shipments reached 24.204 million units in July, exhibiting a robust 30.5% year-on-year growth, demonstrating strong market vitality. Among these, 5G smartphone shipments reached 20.654 million units, up 37.2% year-on-year, accounting for 85.3% of total smartphone shipments during the same period, continuing to lead the market development trend.

The report also reveals that 29 new smartphone models were launched in the domestic market in July, down 17.1% year-on-year. Of these, 13 were 5G smartphones, a decrease of 27.8% year-on-year, accounting for 44.8% of the total number of new smartphone models launched during the same period. While the number of new model launches has decreased, it does not signify a slowdown in market innovation. Instead, it reflects manufacturers' focus on product quality and differentiated competition to meet consumers' growing demands.

From a brand composition perspective, in July 2024, domestic brands shipped 21.827 million smartphones, up 34.4% year-on-year, accounting for 90.2% of total smartphone shipments during the same period, firmly maintaining their dominant position in the domestic market. Meanwhile, domestic brands launched 28 new smartphone models, down 6.7% year-on-year, accounting for 96.6% of the total number of new smartphone models launched during the same period, showcasing their strong innovation capabilities and market competitiveness.

These figures demonstrate that domestic smartphone brands hold a strong competitive advantage in the domestic market, capturing the vast majority of market share. Overseas brands account for less than 10% of the domestic market share, with Apple dominating the remaining share. Other international giants like Samsung and Sony have virtually no presence in the domestic market.

It's worth noting that July is traditionally a slow season for the smartphone market. The upcoming iPhone 16 series, set to launch in September, is expected to have a certain impact on the market share of domestic smartphone brands. However, with their robust technological prowess, market insight, and constantly innovating products and services, domestic smartphone brands are confident in maintaining their market leadership and continuously enhancing their brand influence.

Overall, the Chinese smartphone market exhibits a steady growth trajectory, with 5G smartphones leading the market development. Domestic smartphone brands excel in technology, innovation, and market competition, and they will continue to guide the market direction and drive the sustained development of China's smartphone industry.