Counterpoint Research: Chinese smartphone sales in Q4 decreased by 3.2% year-on-year, the only quarter to see a year-on-year decline in 2024.

According to Counterpoint's monthly report on mobile phone sales, in the fourth quarter of 2024, China's smartphone sales decreased by 3.2% year-on-year, becoming the only quarter in 2024 to experience a year-on-year decline. In the fourth quarter, Huawei ranked first in market share, followed by Xiaomi (01810) and Apple Inc. (AAPL.US). Counterpoint's Deputy Director Ethan Qi commented: "The smartphone market rebounded in the first three quarters of this year, with year-on-year growth in each quarter. However, due to cautious consumer behavior, the growth momentum in the fourth quarter began to slow down." Market share of Chinese smartphone sales, Q4 2023 vs Q4 2024 Regarding the performance of major smartphone manufacturers, Counterpoint's Senior Research Analyst Mengmeng Zhang stated: "In the fourth quarter of 2024, Huawei surged to the top with a market share of 18.1%. This is the first time Huawei has regained market leadership since the U.S. ban. Huawei's sales increased by 15.5% year-on-year, mainly driven by the release of the mid-range Nova 13 series and the high-end Mate 70 series." Xiaomi held steady in second place in the fourth quarter of 2024 with a market share of 17.2%, benefiting from strong performance from the third quarter to the fourth quarter. The flagship Mi 15 series released by Xiaomi in October was a major driver of growth. Xiaomi has made significant progress in the high-end market this year. In addition, the success of Xiaomi's electric vehicles (EV) has further enhanced the brand image and boosted smartphone sales. Facing intense competition in the high-end market from Huawei and other Chinese smartphone brands, Apple Inc. ranked third in the fourth quarter of 2024 with a market share of 17.1%. Looking at the whole year, Chinese smartphone sales increased by 1.5% year-on-year, rebounding from a 1.4% year-on-year decline in 2023. vivo ranked first with a market share of 17.8%, followed closely by Huawei at 16.3%, and Xiaomi in third place with a market share of 15.7%. Market share of Chinese smartphone sales, 2023 vs 2024 Looking ahead to 2025, Counterpoint predicts that the Chinese smartphone market will continue to maintain a low single-digit growth trend. The recently announced nationwide smartphone subsidy program will be implemented from January, expected to become a catalyst for sales growth in the first quarter of 2025. Counterpoint maintains a cautiously optimistic outlook for the Chinese smartphone market in 2025.