Apple captures half of all smartphones sold during Chinese online fest

Apple captured half of smartphones sold in China during the 6.18 online shopping festival, at the expense of Chinese brands Xiaomi and Honor.

According to new research from Strategy Analytics, 14 million units of smartphones were sold during the festival, down 25 per cent (on-year).

“Apple outperformed the market selling nearly 7 million iPhone units, modestly down 4 per cent YoY. We estimate Apple generated a revenue of $6.3 billion,” said analyst Peng Peng.

Apple ranked top by revenue share across all major platforms (JD, TMall and Pinduoduo).

Xiaomi and Honor ranked in the top three list, followed by vivo (IQOO) and OPPO.

“We estimate Xiaomi seized 30 per cent volume share, slightly down from 32 per cent one year ago. Honor captured 10 per cent volume share, growing from 6 per cent in 2021,” said Yiwen Wu, senior analyst.

Covid-related disruptions and economic headwinds caused the mixed performance.

Smartphone online sales price grew to $660 and above this year thanks to the greater mix of higher-priced iPhones, up 13 per cent YoY.

“However, total smartphone online sales revenue still posted 16 per cent annual decline with $9.5 billion,” said Linda Sui, senior director.

The 6.18 online shopping festival in June is China’s second largest shopping festival after Singles’ Day in November.

–IANS

na/

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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