The fourth quarter of 2023 saw a rise in the combined shipments of smartphone brands with headquarters in China of more than 10%, both yearly and sequentially. Even though the volumes will decline in the first quarter of 2024, they will still increase year over year.
The fourth quarter of 2023 saw a rise in the combined shipments of smartphone brands based in China of 11.2% sequentially and 18% year over year, according to statistics and analyses provided by DIGITIMES Research. This increase was attributed to several factors, including the strong season in overseas markets, a spike in demand from emerging markets, and the positive impact of Singles’ Day promotions in the Chinese market.
Industry participants, however, are cautious when it comes to their first-quarter 2024 sales during the Lunar New Year holidays. China-based smartphone shipments are predicted to fall 18.5% sequentially in the quarter as foreign markets enter the slow season.
In the fourth quarter of 2023, 181.2 million smartphones were shipped by Chinese smartphone vendors. With regard to the various market segments, the combined sequential shipment growth of the top three brands—Transsion, Oppo, and Xiaomi—was less than that of the non-top three manufacturers. Consequently, the overall shipment share of the top three brands fell to 58.3% from 59.4% in the third quarter of 2023.