A recent report by International Data Corporation (IDC) indicates a significant market shift within the Chinese smartphone market for the first quarter of 2024. Honor and Huawei have achieved a statistical tie for the leading position, displacing Apple from its previous dominance by a large margin.
IDC: Chinese Smartphone Market Maintains its Recovery Momentum at 6.5% Growth in 1Q24, Huawei and Honor Tied for Top Spot
Honor’s market share grew to 17.1% in Q1 2024, up from 16.1% in Q1 2023. Huawei’s market share saw a much dramatic increase, climbing from 8.6% to 17.0%. This 110% year-over-year growth is likely due to the easing of US sanctions on Huawei, which had previously hampered the company’s ability to sell smartphones.
HONOR climbed to the top spot, thanks to its well-rounded product portfolio and the Magic 6 series which came with popular AI features
Arthur Guo, senior research analyst in Client System Research for IDC China.
Moreoever, Apple experienced a decline in its market share, dropping from 17.8% to 15.6%. This shift is potentially a consequence of intensified competition from Android device manufacturers, coupled with Apple’s inability to compete with the more affordable price points its competitors offer.
Also included in the report is Oppo’s market share decline from 19.8% last Q1 2023 to only 15.7% on Q1 2024 resulting to a -15.5% year-on-year growth.
The IDC report suggests that the Chinese smartphone market is becoming increasingly competitive. Honor and Huawei’s strong performance in Q1 2024 shows that they are both well-positioned to take advantage of this competition. It will be interesting to see how these brands try to maintain their positions as Honor recently launched Magic 6 Pro which is set to launch in the Philippines.
Grant is a Financial Management graduate from UST. His passion for gadgets and tech crossed him over in the industry where he could apply his knowledge as an enthusiast and in-depth analytic skills as a Finance Major. His passion allows him to earn at the same time help Gadget Pilipinas' readers in making smart, value-based decisions and purchases with his reviews and guides.
