Huawei becomes best performer in Q1 2024 Chinese smartphone market: Report

Huawei appears as the best performer among its competitors in the Q1 2024 Chinese smartphone market race. That says, a new report published by Counterpoint. The HarmonyOS developer has made its place in the top five smartphone vendors.

Counterpoint says that China’s smartphone sales have started to recover from a bad declining condition. The market obtained 1.5% YoY growth for the second consecutive quarter. A major credit for this increment goes to Huawei and its product sales.

Further details reveal that Huawei has been the best performer in the Q1 2024 Chinese smartphone market, compared to its rivals. It acquired a growth rate of 69.7% YoY – thanks to the surprising launch and booming sales of the Mate 60 lineup.

The flagship Mate 60 devices helped the company snatch a huge market share in China for a $600+ premium segment. It also contributed to the brand’s reputation and made the Chinese tech maker secure the first spot in the native phone market.

Huawei’s growth also made an impact on Apple in recent months. The US-based company has seen major declines in iPhone sales despite offering huge discounts.

Senior Research Analyst at Counterpoint – Ivan Lam says:

“Apple’s sales were subdued during the quarter as Huawei’s comeback has directly impacted Apple in the premium segment. Besides, the replacement demand for Apple has been slightly subdued compared to previous years.”

Report:

In the Q1 2024 Chinese smartphone market race, Vivo has taken the top spot with a slight decrease in growth of 0.4%. Honor is second with a hike of 11.5% whereas Apple appears in third place with a decline of 19.1% in the growth aspects.

Huawei is standing at the fourth position while OPPO and Xiaomi gained fifth (15.5% decline) and sixth (8.6% increase) respectively. Counterpoint says that sales promotions during Chinese New Year helped the region to see a growth of 20% directly.

(Source – Counterpoint)