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China smartphone industry shipments to pick up further in 4Q23 after 3Q23 growth, says DIGITIMES Research

Luke Lin, DIGITIMES Research, Taipei 0

Credit: DIGITIMES

Chinese smartphone vendors experienced a shipment growth of 4.3% sequentially and 5.8% annually in the third quarter of 2023, buoyed by a seasonal rebound in overseas markets and a resurgence in demand in some emerging markets, according to DIGITIMES Research's latest figures from the report covering China's smartphone industry.

For the fourth quarter, China's smartphone shipments will likely continue to enjoy a quarterly and annual growth of 6-7% as channel operators have built up inventory to meet demand for the Single's Day shopping festivals, and the overseas market will continue to gain momentum.

In the third quarter of 2023, Chinese smartphone brands shipped approximately 152 million smartphones. Regarding market concentration, the top three brands, Xiaomi, Oppo, and Vivo, experienced a decline in shipments compared to the previous quarter, and other manufacturers like Transsion, Honor, Lenovo, and Huawei saw an increase in shipments for the quarter. As a result, the market share of the top three brands decreased to 56.7% compared to the previous 60.4%, the figures show.

For the fourth quarter of 2023, while the unemployment situation among China's young population and migrant workers has not significantly improved, and global inflation concerns persist, the Chinese market is expected to benefit from the Single's Day promotional sales, leading to an increase in stocking.

At the same time, overseas markets will experience a peak season, and demand in South America and Southeast Asia will continue to recover, with channel inventory likely to increase in many regions due to low inventory levels. Chinese smartphone vendors will likely increase their shipments by 6.8% sequentially to over 162 million units in the fourth quarter.