Huawei smartphone sales see biggest growth in 618 shopping festival, but Apple stays ahead

Total smartphone sales volume for the 32-day period grew 6.8 per cent compared with the same period in 2023, according to Counterpoint. The sales performance indicates a warm-up in demand, Counterpoint said, adding that it anticipates low single-digit year-on-year growth for China’s smartphone market this year.

Estimates from TechInsights are more pessimistic. It reported a 2 per cent decline in smartphone sales volume to 13.1 million units during the 618 festival. It expects the market to stay flat at 62.3 billion yuan (US$8.6 billion) this year.

Slower growth in online shopping and the rapid rise of live-streaming e-commerce have made the traditional sales campaigns associated with shopping festivals less attractive to consumers, TechInsights analyst Peng Peng wrote in a report.

“Escalated worries about the downturn of China’s economy”, including in the real estate and job markets, are also holding back consumer spending, Peng added.

While Huawei saw the biggest growth in sales, Apple remained king in terms of sales volume and value, according to TechInsights.