Staying True to Our Roots, Flying Together Towards the Future: vivo Explores New Growth in the Chinese Smartphone Market

Staying True to Our Roots, Flying Together Towards the Future: vivo Explores New Growth in the Chinese Smartphone MarketOn August 8th, the "Counterpoint Industry Dialogue: Insights into the Upward Cycle of the Chinese Smartphone Market" themed salon, hosted by Counterpoint, was held in Shenzhen. The event brought together smartphone industry experts, media reporters, and business representatives to discuss the current state, trends, and business strategies of the Chinese smartphone market

Staying True to Our Roots, Flying Together Towards the Future: vivo Explores New Growth in the Chinese Smartphone Market

On August 8th, the "Counterpoint Industry Dialogue: Insights into the Upward Cycle of the Chinese Smartphone Market" themed salon, hosted by Counterpoint, was held in Shenzhen. The event brought together smartphone industry experts, media reporters, and business representatives to discuss the current state, trends, and business strategies of the Chinese smartphone market. Cheng Gang, Vice President and President of vivo China, delivered a speech titled "Staying True to Our Roots, Flying Together Towards the Future," sharing vivo's insights into the current state of the Chinese smartphone market and its thoughts on future development directions.

Market Situation: Steady Growth, Opportunities and Challenges Coexist

Qi Yingnan, Counterpoint's China Research Director, shared the latest industry data at the salon, pointing out that China's smartphone market saw a 4% year-on-year growth in sales in the first half of 2024, with an estimated total annual sales exceeding 270 million units. This data indicates that the Chinese smartphone market is experiencing steady growth, with significant market potential. However, behind the positive market data, there are also some challenges.

vivo: User-Oriented, Continuous Growth

Cheng Gang mentioned in his speech that vivo's smartphone sales grew by 5% year-on-year, exceeding the industry average, and has consistently ranked first in the market over the past six months. The vivo X100 series has performed exceptionally well in the 4,000-6,000 yuan price segment, while vivo XFold3 ranks second in China's foldable phone market sales. These data indicate that vivo has seen a significant increase in its share of the high-end market, and its brand influence continues to strengthen.

Cheng Gang emphasized that user satisfaction is the starting point and end point of all vivo's work. Only with user satisfaction can the company continue to develop. vivo has always adhered to a user-oriented philosophy, striving to provide products and services that exceed user expectations. vivo prioritizes user satisfaction and Net Promoter Score (NPS), believing that user satisfaction is more important than short-term sales.

Roundtable Discussion: User Needs, Innovation Drives

In the roundtable discussion, the attendees delved further into how to break through the stagnant situation through user-oriented technological innovation. Cheng Gang believes that companies should return to user needs, addressing unmet scenarios for users, allowing them to be chosen by users.

Qin Shuo, a humanist and financial observer, offered a new interpretation of "being true to one's roots." He believes that vivo trusts in research and development to create value and is willing to invest in the long term, an investment closely linked to the consumer experience, ultimately delivering value. Qin Shuo believes that vivo has moved beyond general business ethics requirements and has become a world-class company.

Looking to the Future: Adhering to Our Values, Continuous Innovation

Huang Lei, Dean of Yicai Business School, mentioned at the end of the event that when the tide recedes, those who adhere to the essence of business can stand tall. He believes that this is the golden age of the smartphone industry, and vivo will continue to drive itself through user-oriented technological innovation, continuously providing products and services that exceed user expectations, achieving long-term benefits for all stakeholders.

vivo's Success Secrets:

• User-Oriented: vivo always prioritizes user needs, focusing on addressing user pain points and delivering products and services that exceed expectations.

• Continuous Innovation: vivo continuously engages in technological research and development and product innovation, bringing users a better experience.

• Long-Term Investment: vivo believes in the power of research and development to create value and is willing to invest in the long term, providing users with more comprehensive services.

Future Development Direction of China's Smartphone Market:

• User Experience First: Future smartphone market competition will be even fiercer, and user experience will become a key factor in determining success.

• Technological Innovation Drives: Continuous technological innovation is the core of maintaining a company's competitiveness.

• Social Responsibility: Companies need to assume social responsibility and create value for society.

In the ever-changing market environment, vivo remains committed to its values, prioritizing users, continuously innovating, and creating a better life for users. We believe that in the future, vivo will continue to lead the development of China's smartphone market and contribute to the industry's growth.