China's Smartphone Market Makes a Strong Comeback in 2024: vivo and Huawei Lead the Charge, with Intense Competition in the Foldable Segment

China's Smartphone Market Makes a Strong Comeback in 2024: vivo and Huawei Lead the Charge, with Intense Competition in the Foldable SegmentChina's smartphone market demonstrated a robust recovery in 2024. IDC's latest quarterly mobile phone tracking report reveals that annual shipments reached approximately 286 million units, a year-on-year increase of 5

China's Smartphone Market Makes a Strong Comeback in 2024: vivo and Huawei Lead the Charge, with Intense Competition in the Foldable Segment

China's smartphone market demonstrated a robust recovery in 2024. IDC's latest quarterly mobile phone tracking report reveals that annual shipments reached approximately 286 million units, a year-on-year increase of 5.6%. This marks a successful rebound after two consecutive years of decline, injecting new vitality into the market and signaling a positive outlook for the future. The report details the performance of major manufacturers, highlighting significant shifts in the competitive landscape.

In terms of overall market share for 2024, vivo took the lead with a 17.2% share, experiencing a 10.3% year-on-year growth, showcasing strong market competitiveness and brand influence. Huawei followed closely with a 16.6% share, achieving a remarkable 50.1% year-on-year growth, signifying a powerful comeback. Apple secured third place with a 15.6% share, but saw a 5.4% year-on-year decline, suggesting pressure from intense competition. Honor and OPPO, with 14.9% and 14.8% market share respectively, ranked fourth and fifth, but both experienced year-on-year declines of 8.1% and 6.4%, reflecting the increasingly fierce competition.

Notably, Huawei's strong resurgence in 2024 wasn't a fleeting phenomenon. The company exhibited absolute dominance in the foldable phone market, maintaining a nearly 50% market share throughout the year. This demonstrates Huawei's continued strong competitive advantage and market appeal in the high-end segment, reflecting its technological prowess and brand influence. Honor secured second place with a 20.6% share, solidifying its position in the foldable market. vivo, thanks to the success of its XFold3 series, achieved an 11.1% share, ranking third and showcasing its successful high-end market strategy. Xiaomi, leveraging its first vertical folding phone, captured a 7.4% share, ranking fourth and establishing a foundation for its foldable phone business. Even without launching a new foldable phone in 2024, OPPO retained a 5.3% market share (fifth place), demonstrating the enduring power of its brand.

Data from the fourth quarter of 2024 indicates the continued growth of the Chinese smartphone market, with shipments reaching approximately 76.43 million units, a 3.9% year-on-year increase. This confirms the sustained recovery trend and intensified competition. Apple led the fourth quarter with a 17.4% market share, but experienced a 9.6% year-on-year decline, consistent with the overall annual trend. vivo followed closely with a 17.2% share and a strong 14.0% year-on-year growth. Huawei secured third place with a 16.2% share and a 22.8% year-on-year growth, further consolidating its market position. Xiaomi's performance was particularly impressive in Q4, achieving a 16.0% share and a remarkable 28.4% year-on-year growth, showcasing significant growth potential. Honor and OPPO, with 13.7% market share each, ranked fifth and sixth, but faced year-on-year declines of 14.9% and 4.1% respectively, highlighting the ongoing competitive pressure.

In summary, after two years of downturn, China's smartphone market experienced a strong recovery in 2024. vivo and Huawei, with their strong brand influence and market competitiveness, led the market. Other manufacturers are actively adjusting their strategies to secure their position in the competitive landscape. The foldable phone market, a crucial part of the high-end segment, also showed vibrant growth, with Huawei maintaining its lead while other players actively seek a share of this promising market. Future competition will intensify, requiring continuous innovation and enhanced product competitiveness for survival. The 2024 market data provides valuable insights for future development, indicating a continuously evolving and increasingly diversified competitive landscape. Strategic adjustments and technological innovation will be key, benefiting consumers with better product choices. The future of China's smartphone market is promising, and its growth and innovation will continue to drive the global smartphone industry. The sustained growth also presents new opportunities and challenges for upstream and downstream companies in the related industrial chain, fostering a healthy ecosystem.

In the coming years, the Chinese smartphone market is expected to maintain steady growth, with emerging trends such as the widespread adoption of 5G technology, the rapid development of foldable phones, and the application of new technologies like artificial intelligence. These trends will further intensify market competition and provide consumers with a wider range of choices. Competition will also drive technological innovation and product upgrades, ultimately advancing the industry. Therefore, continuous monitoring of the trends in China's smartphone market is crucial for understanding the direction of the global smartphone industry.