Feed Articles

Huawei is overtaking Apple in the Chinese market: Fierce battle for the top spot continues

CS
Charles Sainsbury
· · 3 min read

Apple's smartphone sales in China fell by 0.3% in the third quarter of 2024, while rival Huawei saw sales surge by 42%. This dynamic shows the growing competition in the world's largest smartphone market, where tech giants are vying for share among Chinese consumers.

According to data from research firm IDC, Apple retained second place in the market with a 15.6% share, down 0.5 percentage points year-on-year. In contrast, Huawei reached third place with a market share of 15.3%, an increase of 4.2 percentage points compared to the same period last year. Vivo, which sells mainly affordable phones, remained in first place with a share of 18.6%.

This development reflects Huawei's return to the premium phone segment, which it launched last year with the launch of the Mate 60, equipped with a domestically manufactured chip. The move has allowed Huawei to reach a wider range of customers and compete with upmarket brands such as Apple. Further strengthening Huawei's position was the launch of the Pura 70, which quickly gained popularity in the Chinese market.

Apple has faced several challenges in the Chinese market in recent months. The government has imposed restrictions on the use of iPhones in some government agencies, which has hit its sales. The American technology firm is trying to address the situation with extensive discount campaigns and strong marketing to increase its appeal to Chinese consumers.

Although Apple faces challenges, its recently launched iPhone 16 model had a successful launch in the Chinese market. According to Counterpoint data, sales of the model were 20% higher in the first three weeks than the previous model from 2023. Along with Apple's new iPhone, Huawei also launched sales on 20 September, introducing a competitive foldable phone.

IDC said that Apple has moved back into the top five in the Chinese market with a 15.6% share thanks to its annual new product launch. Analysts expect demand for the iPhone 16 to grow gradually thanks to further promotions and the expected launch of Apple's Vision Pro device.

Overall, the smartphone market in China grew 3.2% in the third quarter to reach 68.78 million units sold. These figures indicate not only the growing interest in smartphones, but also the fierce competition between domestic and foreign brands in China, which is a key market for most mobile device manufacturers.

Disclaimer: There is a lot of inspiration to be found on Bulios, but stock selection and portfolio construction is up to you, so always do a thorough analysis of your own.

Source: CNN, Yahoo.

A community member's personal view, not investment advice. Community Guidelines

Follow Bulios on Google News

Be among the first to discover new analyses, news and market moves.

Follow

Recommended articles

Read more

The World’s Cheapest Markets? 4 ETFs for Asia

While investors today pay roughly 19 times expected earnings for U.S. stocks, there are exchanges in Asia where the same earnings cost less than half as much. But a low multiple alone does not mean a good deal. Some discounts reflect the peak of the semiconductor cycle, while others stem from the…

KJ
Kryštof Jáně
· 8h
Read more
BLACK

SoFi Stock Is 46% Below Its High. Is It Cheap, or Does It Just Look Cheap?

Revenue is up 44%, profit 73%, and management has promised a figure for 2027 for the first time. Yet the stock is nearly half its annual high and down from n

MC
Milan Charvat
· 11h
Read more
BLACK

A Slightly Spoiled Soup. Why Did the Famous Company Have to Cut Its Dividend After a 67% Plunge?

Campbell's stock is near its lows after a year of declines, and screeners show a 6.8% yield. But in September, management cut the dividend for the first time since 2001, even though it had the cash to pay it. What will be left of that figure for someone buying today?

MC
Milan Charvat
· 15h

We use essential cookies to run the website and optional analytics cookies to measure usage.

Privacy policy