Goldman Sachs: Chinese smartphone shipments in the fourth quarter are expected to decline by 1% year-on-year due to a high base last year.

Goldman Sachs released a research report stating that the shipment volume of smartphones in China in September this year decreased by 26% year-on-year, while the first 9 months saw a year-on-year increase of 7%. Goldman Sachs believes that the high base in October-December last year may drag down this year's annual growth rate. Goldman Sachs predicts that the Chinese smartphone market in the fourth quarter of this year may decline by 1% year-on-year. In terms of cameras, the peak value of the number of cameras per phone has reached 3.3 since the beginning of the year. Meanwhile, the penetration rate of cameras with over 20 megapixels is expected to rise to 51% by 2024, in line with the bank's view on the upgrade of camera specifications for Chinese smartphones. As for 5G smartphones, the shipment volume of 5G phones in China in September dropped by 22% year-on-year to 22 million units, with a penetration rate of 88%. In September, 13 new models of 5G smartphones were introduced in China, a decrease of 35% from the 29 models in August. According to data from the Ministry of Industry and Information Technology, in September of this year, 44 5G models in China had passed the 3C certification process.