{"id":1031366,"date":"2023-11-24T11:02:02","date_gmt":"2023-11-24T02:02:02","guid":{"rendered":"https:\/\/www.counterpointresearch.com\/?post_type=insights&#038;p=1031366"},"modified":"2023-12-11T18:28:28","modified_gmt":"2023-12-11T09:28:28","slug":"singles-day-growth-boosts-odds-of-china-market-smartphone-recovery-in-q4-2023","status":"publish","type":"insights","link":"https:\/\/www.counterpointresearch.com\/insights\/singles-day-growth-boosts-odds-of-china-market-smartphone-recovery-in-q4-2023\/","title":{"rendered":"Singles Day Growth Boosts Odds of China Market Smartphone Recovery in Q4 2023"},"content":{"rendered":"<ul>\n<li><strong>Growth: <\/strong>China\u2019s YoY smartphone unit sales grows 5% during two-week 11.11 sales period<\/li>\n<li><strong>Drivers:<\/strong> Huawei, Xiaomi and Honor continue to ride strong growth momentum from <a href=\"https:\/\/www.counterpointresearch.com\/insights\/latest-china-weekly-smartphone-sales-signals-market-recovery\/\">October<\/a><\/li>\n<li><strong>Drivers:<\/strong> Pent up demand provides steady demand through extended sales period<\/li>\n<li><strong>Expectations:<\/strong> Despite earlier promotions by e-commerce platforms, like-for-like weekly sales growth highlights stronger, more resilient demand than last year<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><strong>Beijing, Hong Kong, Seoul, Boston, New Delhi, London \u2013 November 23, 2023<\/strong><\/p>\n<p>Smartphone unit sales in China during this year\u2019s two-week Singles Day sales event grew by 5% YoY, providing more confidence for a positive fourth quarter.<\/p>\n<p>\u201cThis is a good start to the rest of the quarter,\u201d says Mengmeng Zhang, senior analyst for China.\u00a0 \u201cHuawei is continuing its strong run along with Xiaomi, which is enjoying a further spike in sales with the launch of its new 14 series devices.\u201d<\/p>\n<p style=\"text-align: center;\"><strong>China Singles Day 2023 Smartphone Sales Share and YoY Growth<\/strong><\/p>\n<figure id=\"attachment_1031641\" aria-describedby=\"caption-attachment-1031641\" style=\"width: 1379px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"wp-image-1031641 size-full\" src=\"https:\/\/www.counterpointresearch.com\/wp-content\/uploads\/2023\/11\/Period-Smartphone-Sales-e1701174804325.jpg\" alt=\"China Singles Day 2023 Smartphone Sales Share and YoY Growt\" width=\"1379\" height=\"696\" \/><figcaption id=\"caption-attachment-1031641\" class=\"wp-caption-text\">Source: Counterpoint Research Smartphone 360 Weekly Tracker, China. (*2022 spans Oct 31 \u2013 Nov 13; 2023 spans Oct 30 \u2013 Nov 12.)<\/figcaption><\/figure>\n<p>Huawei\u2019s success and climb in the <a href=\"https:\/\/www.counterpointresearch.com\/insights\/china-smartphone-share\/\">rankings<\/a> has been helped by the recent launch of its Mate 60 series 5G phones and popularity of its older P-series 4G devices.\u00a0 \u201cThe company is posting some very good growth numbers, but obviously there\u2019s base effects happening,\u201d notes China analyst Archie Zhang.\u00a0 \u201cWe expect it will grow by more than half this year, but that still doesn\u2019t bring them close to pre-COVID levels. But it\u2019s signalling a promising 2024.\u201d<\/p>\n<p>\u201cApple is improving compared to last month but there still seems to be hiccups in terms of supply,\u201d observes Ivan Lam, senior analyst for manufacturing.\u00a0 \u201cBut considering last November\u2019s supply snafu was an anomaly, the YoY numbers could move into positive territory as current supply tightness normalizes.\u201d<\/p>\n<p><strong>Background<\/strong><\/p>\n<p>Counterpoint Technology Market Research is a global research firm specializing in products in the TMT (technology, media and telecom) industry. It services major technology and financial firms with a mix of monthly reports, customized projects and detailed analyses of the mobile and technology markets. Its key analysts are seasoned experts in the high-tech industry.<\/p>\n<p><strong>Follow Counterpoint Research<\/strong><\/p>\n<p><a href=\"mailto:press@counterpointresearch.com\">press(at)counterpointresearch.com<\/a><\/p>\n<p><a href=\"https:\/\/twitter.com\/CounterpointTR\"><img decoding=\"async\" class=\"alignnone size-full wp-image-1030448 ls-is-cached lazyloaded\" src=\"https:\/\/www.counterpointresearch.com\/wp-content\/uploads\/2023\/11\/opinion-twitter-hover.png\" alt=\"\" width=\"30\" height=\"30\" data-src=\"https:\/\/www.counterpointresearch.com\/wp-content\/uploads\/2023\/11\/opinion-twitter-hover.png\" data-eio-rwidth=\"30\" data-eio-rheight=\"30\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"author":43,"featured_media":1031644,"template":"","report_type":[5992],"insights_category":[653],"insights_tag":[680,1032,765,6084,1059,6124,675,6125,6126,998,6036,1091,745,1779,679],"coverage":[1271,1272,6024],"acf":[],"_links":{"self":[{"href":"https:\/\/www.counterpointresearch.com\/wp-json\/wp\/v2\/insights\/1031366"}],"collection":[{"href":"https:\/\/www.counterpointresearch.com\/wp-json\/wp\/v2\/insights"}],"about":[{"href":"https:\/\/www.counterpointresearch.com\/wp-json\/wp\/v2\/types\/insights"}],"author":[{"embeddable":true,"href":"https:\/\/www.counterpointresearch.com\/wp-json\/wp\/v2\/users\/43"}],"version-history":[{"count":7,"href":"https:\/\/www.counterpointresearch.com\/wp-json\/wp\/v2\/insights\/1031366\/revisions"}],"predecessor-version":[{"id":1031801,"href":"https:\/\/www.counterpointresearch.com\/wp-json\/wp\/v2\/insights\/1031366\/revisions\/1031801"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.counterpointresearch.com\/wp-json\/wp\/v2\/media\/1031644"}],"wp:attachment":[{"href":"https:\/\/www.counterpointresearch.com\/wp-json\/wp\/v2\/media?parent=1031366"}],"wp:term":[{"taxonomy":"report_type","embeddable":true,"href":"https:\/\/www.counterpointresearch.com\/wp-json\/wp\/v2\/report_type?post=1031366"},{"taxonomy":"insights_category","embeddable":true,"href":"https:\/\/www.counterpointresearch.com\/wp-json\/wp\/v2\/insights_category?post=1031366"},{"taxonomy":"insights_tag","embeddable":true,"href":"https:\/\/www.counterpointresearch.com\/wp-json\/wp\/v2\/insights_tag?post=1031366"},{"taxonomy":"coverage","embeddable":true,"href":"https:\/\/www.counterpointresearch.com\/wp-json\/wp\/v2\/coverage?post=1031366"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}