vivo topped China’s smartphone market in Q3 2022

vivo topped China’s smartphone market in Q3 2022

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According to new research from strategy analysis, Smartphone shipments in China fell -16% year-on-year to 67 million units in Q3 2022. vivo regained the top position with a 21% market share, followed by OPPO (including OnePlus), Honor, Apple and Xiaomi. Within the top 5 players, only Apple delivered year-over-year growth this quarter.

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Exhibit 1: China Smartphone Shipments and Market Share in Q3 2022* Numbers are rounded.  (Source: Strategy Analytics, Inc.)

Exhibit 1: China Smartphone Shipments and Market Share in Q3 2022* Numbers are rounded. (Source: Strategy Analytics, Inc.)

Yiwenwu, Senior Analyst at Strategy Analytics, said: “China’s smartphone shipments decreased to 66.9 million units in the third quarter of 2022, down -16.0% year-on-year. It is the sixth consecutive quarter of annual decline in smartphone shipments. Inventory adjustments and weakening demand blamed on macroeconomic headwinds weighed on the mixed performance.

pretty, Senior Director of Strategy Analytics, said: “vivo regained the top position in China in Q3 2022 with 14.3 million units of smartphone shipments. However, its shipments fell -21% year-on-year and its share of volume fell to 21% from 23% a year ago. vivo updated its product portfolio this quarter and we saw steady progress in the premium segment and the online channel. The X-series helped the company improve brand awareness among wealthy and young users. Meanwhile, the revamped iQOO series continues to shine in the online segment. OPPO (OnePlus) as a whole ranked second with 12.2 million unit shipments, achieving an 18% market share in Q3 2022. OPPO (OnePlus) posted the largest year-on-year decline (-27% YoY) this quarter among the top 5 providers. OPPO was less aggressive in launching new products this quarter in the local market amid economic uncertainties. The Reno 8 series in affordable and high-end 5G A models remained on the best-seller list. We recommend the company take feasible steps to stabilize performance in the Chinese market.”

peng peng, an analyst at Strategy Analytics, added: “Honor ceded the top position to vivo in the third quarter and ranked third with 12.1 million units of smartphone shipments. Honor’s impressively rugged ride came to a halt and led to a -15% YoY decline in the local market. Honor slowed down its product launch cycle in the third quarter and only introduced the X40i and X40 in the local market. We expect the competition between Honor and vivo for the top position to intensify in the coming quarters. Apple ranked fourth with 10.3 million iPhone shipments and a 15% volume share this quarter, up from 13% a year ago. Apple outperformed the general market and posted a +3% year-over-year growth rate. It is the only provider with the annual growth rate among the top 5 players. The growth came primarily from attractive price discounts on the iPhone 13 series and healthy demand for the newly launched iPhone 14 Pro and 14 Pro Max in first-tier cities.”

Yiwenwu, Senior Analyst at Strategy Analytics, added: “Xiaomi fell to fifth position in China with 9.0 million unit shipments this quarter. Its shipments fell -16% YoY, in line with the general market. Xiaomi brought female-oriented Civi 2, online-focused Redmi K50, ultra-premium Mi 12s Ultra and Mix Fold 2 to market in Q3. These models represent Xiaomi’s latest efforts to expand addressable markets. Xiaomi faces stiff competition in the online market, mainly from Honor. Meanwhile, its aggressive offline expansion has slowed. We expect China’s smartphone market to continue to trend down in the coming quarters due to ongoing COVID disruptions and economic headwinds. The high-end segment would outperform the mass market thanks to the deep pockets of wealthy users amid economic uncertainties. We recommend major Chinese brands to launch more differentiated products to address the high-end segment. Meanwhile, managing inventories carefully is another challenge for all suppliers in the coming quarters.”

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Report contacts:

US Contact: Linda Sui, +1 617 614 0735, [email protected]

European contact: Neil Mawston, +44 1908 423 628, [email protected]

Contact in China: Yiwen Wu, +86 156 0180 3216, [email protected]

South Korea Contact: Woody Oh, +82 10 2230 2201, [email protected]

Source: Strategy Analysis

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