Apple captures half of all smartphones sold at Chinese online festival
Apple grabbed half of the smartphones sold in China during the 6.18 online shopping festival, at the expense of Chinese brands Xiaomi and Honor.
According to a new study by Strategy Analytics, 14 million units of smartphones were sold during the festival, down 25% (year-on-year).
“Apple outperformed the market by selling nearly 7 million iPhone units, down slightly from 4% year-on-year. We estimate Apple generated $6.3 billion in revenue,” said analyst Peng Peng.
Apple ranked first in revenue share across all major platforms (JD, TMall, and Pinduoduo).
Xiaomi and Honor ranked in the top three, followed by vivo (IQOO) and OPPO.
“We estimate Xiaomi captured 30% volume share, down slightly from 32% a year ago. Honor captured 10% volume share, down from 6% in 2021,” said Yiwen Wu, Principal Analyst.
Covid-related disruptions and economic headwinds caused mixed performance.
The online sale price of smartphones has reached $660+ this year thanks to the wider variety of more expensive iPhones, up 13% year-on-year.
“However, total online smartphone sales revenue still showed a 16% annual decline to $9.5 billion,” said senior director Linda Sui.
The 6.18 online shopping festival in June is the second largest shopping festival in China after Singles Day in November.
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(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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