China's Smartphone Market Rebounds, vivo Reclaims Top Market Share

China's Smartphone Market Rebounds, vivo Reclaims Top Market ShareFast Technology, October 28 - According to the latest report from Counterpoint Research, China's smartphone sales grew 2.3% year-on-year in the third quarter of 2024, marking a positive year-on-year growth for four consecutive quarters

China's Smartphone Market Rebounds, vivo Reclaims Top Market Share

Fast Technology, October 28 - According to the latest report from Counterpoint Research, China's smartphone sales grew 2.3% year-on-year in the third quarter of 2024, marking a positive year-on-year growth for four consecutive quarters. The market is poised for its first annual growth in five years. This further confirms the market's rebound trend in 2024, with a projected low single-digit year-on-year growth for the full year, boosting industry confidence.

As the smartphone market gradually recovers, the market share of domestic smartphone brands has also undergone significant changes, resulting in the formation of a new "Big Three." Data shows that in the third quarter of 2024, vivo reclaimed the top position with a 19.2% market share, followed by Huawei (16.4%) and Xiaomi (15.6%). Honor ranked fourth with a 15.3% share; OPPO came in fifth with a 14.7% share; and Apple followed with a 13.5% share.

In the third quarter, vivo maintained its leadership position with a 19.2% market share, driven by its diverse product portfolio and best-selling models across various price segments. Huawei followed closely with a 16.4% market share, ranking second, while Xiaomi secured the third spot with a 15.6% share. Counterpoint indicated that Huawei experienced a strong rebound in the third quarter, achieving a 30% year-on-year growth. The Pura70 and Mate60 series contributed significantly to Huawei's sales, reflecting its strong influence in China's high-end market. During the quarter, Huawei reduced prices for the Pura70 and Mate60 series in anticipation of the launch of the Mate70 series.

Xiaomi's rise to third place was fueled by the success of its high-end Redmi K series and Xiaomi flagship series. In the third quarter, the K70 series, which included the newly added K70 Ultra, fully showcased Xiaomi's "high configuration, low price" strategy.

With the rebound in China's smartphone market, major manufacturers are ramping up their efforts, leading to the formation of a new "Big Three." vivo has successfully reclaimed the top market share position thanks to its diversified product portfolio and best-selling models. Huawei, leveraging its strong influence in the high-end market, has achieved a robust rebound. Xiaomi has secured third place through its "high configuration, low price" strategy. The future development of China's smartphone market and the competitive dynamics among the new "Big Three" remain to be seen.