Market research company International Data Corporation (IDC) has unveiled the latest figures regarding smartphone market share for the first quarter of 2024. The data highlights that both Honor and Huawei have secured the top spot in terms of market share within their domestic market of China.
Market Share Overview
The Chinese market witnessed the sale of 69.26 million smartphones in the initial quarter of this year, indicating a 6.5% increase in sales compared to the same period last year.
Honor's Growth
Honor has notably achieved a market share of 17.1%, marking a substantial year-on-year growth of 13.2%. The success can be attributed to the introduction of foldable devices and the Honor Magic 6, positioning the brand as a formidable competitor among industry leaders.
Huawei's Resurgence
Huawei, on the other hand, is swiftly reclaiming its market standing following the launch of the Huawei Mate 60 series in August last year. In Q1 2024, Huawei nearly matched Honor with a market share of 17%, showcasing significant year-on-year growth of 110%. The Nova 12 series contributed to a third of total shipments during the quarter.
Despite these advancements, Huawei continues to face challenges in its supply chain, impacting its ability to meet market demands. Issues were evident with the release of the Pura 70 series flagships. Nevertheless, the upcoming series may potentially propel Huawei to even greater heights by the end of Q2 2024.
Competitive Landscape
Occupying the third and fourth positions are Oppo and Apple, each commanding a market share of 15.7% and 15.6% respectively during the same period. However, both companies experienced negative year-on-year growth in China, with OPPO witnessing a 15.5% decline in shipments and Apple facing a 6.6% decrease. These setbacks could be linked to the resurgence of Huawei. vivo secured the fifth spot with a 14.6% market share, marking a year-on-year increase of 4.8%.
Apple, in particular, has been adjusting its pricing strategies in response to market conditions. Despite this, IDC warns of potential heightened competition from other Original Equipment Manufacturers (OEMs) in the region.
