Tech Giants and New Consumer Trends: From Tri-Fold Phones to Douyins Growing GMV

Tech Giants and New Consumer Trends: From Tri-Fold Phones to Douyins Growing GMVSeptember 10, 2024, saw a buzz in both the tech and consumer markets. Huawei unveiled the MateXT, the world's first tri-fold phone, sparking market excitement

Tech Giants and New Consumer Trends: From Tri-Fold Phones to Douyins Growing GMV

September 10, 2024, saw a buzz in both the tech and consumer markets. Huawei unveiled the MateXT, the world's first tri-fold phone, sparking market excitement. The phone's price even skyrocketed in the secondhand market. Meanwhile, Douyin's e-commerce GMV surged by 46% year-on-year, showcasing its strong momentum in the e-commerce space. Other notable developments include the completion of app personal information collection and usage compliance adjustments, and the release of Apple's latest products.

Huawei MateXT Tri-Fold Phone ignites Market Enthusiasm

Huawei released the MateXT Extraordinary Master, the world's first tri-fold phone, on the afternoon of September 10th, priced between 19,999 yuan and 23,999 yuan per unit. This launch quickly generated excitement, with numerous users reserving purchase slots and intending to resell the device for a profit ranging from 1,000 to 2,000 yuan. On the secondhand trading platform Xianyu, some sellers claimed they would resell the 23,999 yuan MateXT Extraordinary Master for 58,800 yuan. The emergence of the Huawei MateXT not only marks a new milestone in foldable phone technology but also indicates a bright future for the foldable phone market.

Douyin E-commerce GMV Jumps 46% YoY, with Strong Performance in Shelf Scene

On September 9, 2024, the Douyin E-commerce Author Gala was held in Shanghai. During the event, Wei Wenwen, President of Douyin E-commerce, disclosed that over the past year, Douyin's e-commerce GMV increased by 46% year-on-year, with the shelf scene's GMV rising 86% year-on-year. The platform boasts over 2 million young e-commerce authors, over 7.53 million new e-commerce authors, and more than 27,000 MCN agencies. The average daily broadcast hours of e-commerce live streams grew 33% year-on-year, while e-commerce authors with GMV exceeding 10 million yuan saw a 52% year-on-year growth. The rapid development of Douyin e-commerce reflects the vigorous growth of short video and live streaming e-commerce, offering consumers a more convenient and personalized shopping experience.

62 Apps Including JD.com and Taobao Complete Personal Information Collection and Usage Compliance Adjustments

The China Cyber Security Association issued a notice today regarding the completion of personal information collection and usage compliance adjustments for apps. The adjustments primarily addressed issues such as excessive personal information collection, excessive access to sensitive permissions, inconvenient permission settings, and account cancellation procedures. 62 apps, including JD.com and Taobao, have launched compliant versions on app stores and committed to maintaining compliance levels through subsequent updates. This signifies increasing attention to app personal information protection and reminds users to prioritize personal information security when using apps, opting for legitimate and compliant ones.

Apple Unveils New Products, Tmall and Suning.com Launch First Sales

In the early hours of September 10th, Apple's autumn launch event officially unveiled the latest generation of flagship iPhone 16 series, along with Apple Watch Series 10, Apple Watch Ultra 2, AirPods 4, and AirPods Max. The iPhone 16 series is now available for reservation, with pre-orders commencing on the 13th and global launch scheduled for September 20th. Suning.com offers a trade-in bonus of up to 1,000 yuan for iPhone new products and provides limited 12-month interest-free installments. The Tmall AppleStore official flagship store supports 24-month interest-free installments for the entire iPhone 16 series, making it possible for consumers to purchase new iPhones for approximately 8 yuan per day. The launch of Apple's new products has once again captured the attention of consumers and signals the beginning of a new round of competition in the smartphone market.

Secondhand E-commerce Platform ZhuanZhuan Sees a Surge in Search Volume for iPhone 14 Pro and iPhone 15 Pro

Following Apple's product launch, secondhand trading platforms witnessed a spike in Apple phone popularity. Data from ZhuanZhuan, a secondhand e-commerce platform, reveals that after the launch event, inquiries for Apple phone recycling increased by 96% year-on-year, and search volume climbed 101% year-on-year. The data indicates that Apple's new releases have contributed to increased secondhand phone recycling enthusiasm, boosting consumers' desire to recycle their old devices. The iPhone 15 Pro Max, iPhone 15 Pro, and iPhone 14 Pro have become popular models for recycling. The active nature of secondhand phone trading platforms also reflects the trend of consumer upgrades in electronic products.

Other Industry Updates

Beyond the aforementioned tech giants and new consumer trends, other sectors have also witnessed noteworthy developments.

• Golden Goose recorded a net revenue of 307 million euros in the first half of the year, with core profit growing 12%.

• Zhijie R7 launched pre-orders with a starting price of 268,000 yuan, aiming to compete with Model Y by exceeding Model X specifications.

• RoboTaxi refuted rumors of a fatal accident involving its vehicle and a food delivery driver, stating that the vehicle involved is not affiliated with the company.

• Xiaopeng Motors confirmed over 2,000 daily orders for the MONAM 03 and adjusted production capacity to meet market demand.

• Nanqiao Food's consolidated operating revenue for August reached 244 million yuan, representing a 1.13% year-on-year increase.

• Under Armour expects restructuring plan costs to exceed expectations, with an anticipated operating loss of up to $240 million for the fiscal year.

• Cainiao will initiate the second phase of global eHub construction, accelerating the integration of its global logistics network into global and regional industrial chain layouts.

• Yuanqi Forest invested 500 million yuan in a brand management project, focusing on developing popular music-themed cultural and tourism IP projects.

• Ji Hui Life secured 9.8 million yuan in Series A financing, aiming to integrate internet discount function resources.

• Jingyu Qingjiu secured tens of millions of yuan in angel round financing, which will be used for research and development investment, production scale expansion, and sales channel expansion.

Summary

September 10, 2024, witnessed a vibrant atmosphere in both tech giants and consumer markets. The Huawei MateXT tri-fold phone, Douyin's rising GMV, and Apple's product launches all hint at future market trends. Meanwhile, various sectors exhibit distinct development trajectories, injecting new vitality into the market.