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IDC: Chinese Smartphone Market Continues Growth Streak with 3.2% Rise in 3Q24
October 25, 2024 | IDCEstimated reading time: 1 minute
According to preliminary data from the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker, China smartphone shipments grew 3.2% year over year (YoY) to 68.8 million units in 3Q24. This marks the fourth consecutive quarter of expansion, fueled by a surge in device upgrades driven by sustained pent-up demand.
"A significant wave of device upgrades is propelling the sustained recovery of the Chinese smartphone market," said Arthur Guo, senior research analyst in Client System Research for IDC China. "Despite ongoing economic challenges, consumers are highly motivated to purchase new smartphones after three years of pent-up demand."
Apple re-enters the Top 5 smartphone companies at second place with the launch of its new iPhone 16 series. Initial sales figures are on par with its predecessor, and the company anticipates that upcoming promotions and the anticipated launch of Apple Intelligence will drive future demand.
Chinese OEMs -- vivo, Huawei, and Xiaomi – contributed to the 3.8% growth in the Android market, each achieving robust double-digit growth.
vivo maintained its leadership position in the Chinese market in 3Q24, leveraging its effective strategy of distinct product positioning across its main and sub-brands.
Huawei has staged an impressive comeback, recording four consecutive quarters of at least double-digit growth. The launch of the world's first tri-foldable phone is expected to further drive the foldable market development.
Xiaomi delivered its fifth straight quarter of growth by continuing to cater to budget-conscious consumers while also pushing boundaries in the high-end segment.
Honor secured the fifth position in Top 5 driven by popular models like X50, that made Honor number one in the $100-$200 price segment. Additionally, new models like Magic Flip and Magic V3 propelled Honor to second place in the foldable market this quarter.
"We anticipate the positive growth trajectory to continue into the fourth quarter," said Jacob Zhu, research analyst for Client Devices at IDC Asia/Pacific. "This momentum will be bolstered by the early release of flagship models from leading brands, as well as the early kick-off of the Singles Day shopping festival."
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