In the third quarter, China's smartphone sales increased by 2.3% year-on-year, with vivo leading the market with a 19.2% share, followed closely by Huawei at 16.4%, and Xiaomi ranking third with 15.6%

After experiencing years of market fluctuations, the Chinese smartphone market showed significant signs of recovery in the third quarter of 2024. According to the latest monthly report on smartphone sales released by Counterpoint Research, smartphone sales in China in the third quarter of 2024 increased by 2.3% year-on-year, marking the first annual growth in five years. This indicates that the market is gradually emerging from a low point, with industry confidence significantly boosted. The report pointed out that vivo once again took the top spot in the market this quarter with a market share of 19.2%. With its diverse product portfolio and best-selling models covering various price segments, vivo successfully maintained its market leadership position. Huawei followed closely behind, ranking second with a market share of 16.4%, while Xiaomi ranked third with a share of 15.6%. Huawei maintained a strong rebound in the third quarter, achieving a 30% year-on-year growth on a low base. This growth was mainly driven by the strong sales of the Pura 70 and Mate 60 series, which accounted for a significant portion of Huawei's sales and once again demonstrated Huawei's strong influence in the high-end market in China. Xiaomi's rise benefited from the success of its high-end Redmi K series and flagship Mi series, with the new model K70 Ultra fully showcasing Xiaomi's strategic advantage of "high configuration, low price". In order to compete for market share, various brands introduced more affordable models in the third quarter and reduced prices of old models. Manufacturers such as OPPO, vivo, and Huawei launched new color versions or entirely new models, such as the new color versions of OPPO A3 and vivo Y200 GT, as well as the all-new vivo Y300 Pro. Additionally, in preparation for the release of new products in the fourth quarter, OEM manufacturers reduced prices and offered promotions on old models. For example, Huawei lowered the prices of the Pura 70 and Mate 60 series, while Honor plans to launch the X60 in October to replicate the success of the X50 in the budget market. In the foldable phone sector, various brands also introduced several new products. Honor launched the Magic V3 and Magic Vs3, expanding its foldable product line and releasing its first small foldable product, the Magic V Flip. Xiaomi introduced Mix Flip and Mix Fold 4, further enriching its foldable phone product line. Huawei attracted attention with the global debut of the Mate XT, the world's first tri-fold phone, priced at around $2808 (RMB 19999), once again putting the foldable phone sector in the spotlight. It is worth mentioning that Apple's new iPhone 16 series, released on September 20, also performed strongly in the market. As of October 8, over 70% of the sales in the iPhone 16 series came from the Pro and Pro Max models, highlighting consumers' preference for superior displays, gaming, and imaging experiences This trend may bring more revenue growth to Apple and further expand its presence in the high-end market. As we enter the fourth quarter, Chinese smartphone brands are entering the flagship model release period. All major brands will use the latest chips in the updates of their flagship products, while also launching updated mid-range models to meet the needs of the mass market. Therefore, competition in the fourth quarter is expected to be more intense, with brands engaging in a fiercer market battle