Double 11 Smartphone Market Report: Xiaomi Takes the Crown, Apple's High-End Dominance Remains

Double 11 Smartphone Market Report: Xiaomi Takes the Crown, Apple's High-End Dominance RemainsDouble 11, also known as Singles' Day, has come to an end in 2023. TechInsights, a semiconductor industry research firm, released data showing that domestic smartphone sales grew by 26% year-on-year during this year's Double 11, reaching 9

Double 11 Smartphone Market Report: Xiaomi Takes the Crown, Apple's High-End Dominance Remains

Double 11, also known as Singles' Day, has come to an end in 2023. TechInsights, a semiconductor industry research firm, released data showing that domestic smartphone sales grew by 26% year-on-year during this year's Double 11, reaching 9.5 million units. This growth was primarily driven by an extended sales period. However, revenue growth lagged behind sales growth, but still remained in double digits. The average selling price (ASP) declined year-on-year, influenced by the polarization trend in the market.

In terms of manufacturers, Apple continued to dominate the high-end market (above 6,000 yuan, or $828). Xiaomi, with its strong growth in the entry-level to mid-range segments, narrowed the gap with Apple. In terms of sales volume, vivo surpassed Honor to take third place, while Huawei remained in third place by revenue, boasting the highest ASP among Chinese manufacturers.

Xiaomi's Victory: Multi-Platform Strategy Pays Off

During Double 11, Xiaomi performed exceptionally well on various e-commerce platforms, securing the top spot in both cumulative sales and revenue for domestic smartphone brands on JD.com, as well as the number one position for smartphone brand sales on JD.com. Xiaomi also achieved the top spot for both cumulative sales and revenue for domestic smartphone brands on Pinduoduo, Douyin's smartphone shop rankings, and the domestic smartphone brand chart. On Kuaishou, Xiaomi also topped the domestic self-broadcast sales charts for both sales volume and revenue. Notably, the Redmi K70 Supreme Edition secured the championship in Android phone sales on JD.com, Tmall, and Pinduoduo, while also topping both cumulative sales and revenue in the 2,000-2,999 yuan price segment. The Xiaomi 15 also claimed the top spot for both cumulative sales and revenue in the 4,000-5,999 yuan price segment on Tmall and other platforms.

JD.com Remains the Leader, Live Streaming Continues its Growth

From a channel perspective, JD.com remains the largest platform for smartphone sales in both volume and revenue, followed by Tmall (including Taobao) and Pinduoduo. Live streaming (Douyin, Kuaishou, Xiaohongshu, etc.) continued to expand year-on-year, capturing an estimated 22% market share in terms of GMV.

Market Trends: Premiumization and Differentiated Competition

This year's Double 11 smartphone market displayed clear trends:

• Premiumization Trend: Apple's dominance in the high-end market signifies consumers' continued demand for premium smartphones.

• Intensified Differentiated Competition: Manufacturers have been launching differentiated products to appeal to consumers in different segments. For instance, Xiaomi has achieved success in the low to mid-range market with its value-for-money proposition, while vivo has focused on imaging capabilities, and Honor caters to young audiences.

• Rise of Live Streaming: Live streaming has become a crucial channel for smartphone sales, providing consumers with a more convenient shopping experience and offering manufacturers a more direct marketing approach.

Future Outlook: Competition to Intensify

As the smartphone market matures, competition is set to become even more intense. Manufacturers need to continuously innovate, introducing more competitive products, while also strengthening brand marketing to enhance user loyalty. Additionally, channel development is essential; manufacturers need to actively expand both online and offline channels to meet diverse consumer needs.

Overall, this year's Double 11 smartphone market performed brightly, achieving growth in both sales volume and revenue. Manufacturers have showcased their distinct strategies in the competition, offering consumers a wealth of choices. It is anticipated that the smartphone market will continue to grow healthily in the future, bringing more exciting experiences to consumers.