The smartphone industry has been going through a continuous decline for the past 1 year and the Chinese market is no exception to this downstream in mobile sales.
China’s Zheshang Securities says that after a long reshuffling in demand, the Chinese smartphone market has begun to show signs of recovery, which is mainly driven by two smartphones Huawei Mate 60 and Xiaomi 14.
The research also comments that after the global smartphone industry has experienced a continuous six-quarter destocking rally, the industry is gradually turning toward a good business. This indicates that the industry could mark a recovery in the third quarter of this year.
On the other hand, the performance of smartphone makers is likely to pick up pace in the second half of this year. In Q3 2023 report from Canalys estimates that smartphone shipments in China saw a consecutive decline of modest decline of about 5%.
It’s revealed that smartphone makers need to invest heavily in research and development of new products in order to provide better quality for consumers. On the other hand, challenges such as production rate are also a big issue, which is growing rapidly and failing to cope with market demand.