Overview:
Smartphone sales plummeted to a year-to-date low in Week 15, but began rising from Week 16 onwards. Remarkably, Week 18 saw a significant 30% WoW and 18% YoY growth driven by strong promotions during the Labor Day holiday. With the arrival of the mid-year 618 shopping festival, running from May 20 to June 20, Chinese OEMs are expected to launch several new phones prior to the official commencement of the festival to boost sales volume in addition to price-cut promotions. Apple also offered its largest-ever discount of up to RMB 2,300 on select iPhone models from May 20 to May 28. Therefore, we expect to see continued growth in the coming weeks.
Table of Contents:
- Overall Performance and Market Dynamics
- Brand-wise notes
Number of Pages: 5
Published Date: May 2024