The competition in the smartphone market is still going strong. Dozens of companies like Apple, Samsung, Xiaomi, Huawei, Honor, Oppo, and Vivo are fiercely competing in this shrinking market to secure their place and grab a larger piece of the pie. Recently, Canalys released a report showing the status of the smartphone market in China for Q3 2023. According to the report, the market closed this quarter with a 5% decline, and Honor managed to take the lead, leaving all its competitors behind. Here are the details…
China’s Smartphone Market Bottomed Out in 2023, Gradual Demand Recovery Expected for Honor, Opportunity, Apple, Vivo, Xiaomi, and Huawei
When we look at the smartphone market in China, it’s quite different from the 100 million unit boundaries of 2020. The market has shown a 5% decline compared to the previous quarter, now standing at 66.7 million units. As you may know, even entry-level and mid-range phones come with impressive features these days. This significantly enhances the user experience but also leads to a decrease in how frequently people replace their devices, especially when global economic difficulties, like those we’re experiencing today, start to emerge.
Looking at the report, what really caught our attention were the market shares. According to the data, Honor has secured an 18% market share with 11.8 million shipments. A few years ago, Honor separated from the Huawei umbrella and continued its journey as an independent company. Recently, they have managed to gain attention, especially with models like the X50 Series, Magic Vs 2 and Play 50 Plus. It seems that this interest in Honor’s products is significantly higher in China compared to other brands.
Honor, with an 18% market share, leads the pack, followed closely by OPPO (16%), Apple (16%), vivo (16%), and Xiaomi (14%). Huawei, on the other hand, has been steadily increasing its market share, reaching 13%. In contrast, vivo and Xiaomi have seen a dip in their market shares, primarily due to their cautious shipment strategies. Both companies are prioritizing profitability and avoiding inventory risks.
Huawei remains the intriguing wildcard in this market. The company continued to gain market share in Q3 2023 and is expected to play a significant role in the final quarter of the year.
| China Smartphone Market Q3 2023 | |||||
| Vendor | Q3 2023 shipments (million) | Q3 2023 market share | Q3 2022 shipments (million) | Q3 2022 market share | Annual growth |
| HONOR | 11.8 | 18% | 12.0 | 17% | -1% |
| OPPO | 10.9 | 16% | 12.1 | 17% | -10% |
| Apple | 10.6 | 16% | 11.3 | 16% | -6% |
| vivo | 10.4 | 16% | 14.1 | 20% | -26% |
| Xiaomi | 9.1 | 14% | 9.0 | 13% | 0% |
| Others | 13.9 | 21% | 11.4 | 16% | 21% |
| Total | 66.7 | 100% | 69.8 | 100% | -5% |
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