This year’s 618 e-commerce festival in China that ran from May 31st to June 18th recorded slow growth in smartphone sales. The numbers were 10 percent down year-on-year due to COVID-19 and slowdown. TMall didn’t reveal its sales numbers whereas another e-commerce retailer JD recorded a GMV of RMB 379.3 billion, an increase of 10.3 percent compared to 2021.
According to Counterpoint report, discounts and promotions during the 618 festival helped lift China’s smartphone market from lows in April and May. The sales during the first week of the festival were up 32 percent, however, the total sales during the entire period were still down by 10 percent.
As per the data, Honor lead the market during this year’s 618 festival with 19.1 percent sales. It grew 148 percent YoY and was the only brand with positive growth. Vivo bagged the second spot whereas OPPO came third in the list. Mid-range smartphones from both brands like the Reno 8 and Vivo S15 helped drive their sales. Xiaomi’s market share declined during this year’s festival pulling down the brand to the fourth spot. The company’s best sales contributor this year was the Redmi K50. Meanwhile, Cupertino-based brand Apple maintained a stable market share, although the sales declined slightly year on year. The company was the clear winner in the high-end segment.
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