Chinese smartphone vendors together experienced a shipment growth of 4.3% sequentially and 5.8% annually in the third quarter of 2023, buoyed by a seasonal rebound in overseas markets and a resurgence in demand in some emerging markets.
Abstract
Chinese smartphone brands shipped approximately 152 million smartphones in the third quarter of 2023. Regarding market concentration, the top three brands, Xiaomi, Oppo, and Vivo, experienced a decline in shipments compared to the previous quarter, and other manufacturers like Transsion, Honor, Lenovo, and Huawei saw an increase in shipments for the quarter.
As a result, the market share of the top three brands decreased to 56.7% compared to the previous 60.4%.
For the fourth quarter, China's smartphone shipments will likely continue to enjoy a quarterly and annual growth of 6-7% as channel operators have built up inventory to meet demand for the Single's Day shopping festivals, and the overseas market will continue to gain momentum.
