Chinese Smartphone market may remain weak through 2023, IDC says | Tech News

Chinese Smartphone market may remain weak through 2023, IDC says

Chinese smartphone shipments fell 2.1% in the second quarter, extending a market decline that may persist throughout 2023, research house IDC said.

By:BLOOMBERG
| Updated on: Jul 28 2023, 07:37 IST
India launch date of new Samsung foldable smartphones-check here
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1/8 On July 26, Samsung launched its much awaited Galaxy Z Fold 5 and Flip 5 foldable smartphones. The sale of the smartphone will begin on August 11. With the launch of these foldables, Samsung believes that it will strengthen its leadership in the market. (samsung)
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2/8 However, these products will be available in India at a later date. A Samsung official said that the devices will be launched in India in the subsequent week (after August 11). (Samsung)
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3/8 TM Roh, President and Head of Mobile eXperience Business at Samsung Electronics said, "In a few more years, the foldables' market is set to surpass 100 million devices. Already, more than half of our users say they are considering foldable for their next upgrade."  (Samsung)
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4/8 Samsung India's Senior Director, Aditya Babbar believes that over the last five years, the foldables have provided Indian consumers with new and innovative experiences.   (Samsung)
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5/8 It is reported that 5th generation of the foldables will enhance the user experience as compared to its predecessor. The Snapdragon 8 Gen 2 chipset will distinguish the foldable industry in terms of performance too.  (Samsung)
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6/8 The redesigned flex hinge improves the fold experience while also making the phone lighter. With new advancements, Samsung hopes to make the foldable more useful. The smaller size of the Flip 5 helps with its user-friendliness.  (Samsung)
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7/8 As per experts, the Samsung premium smartphone segments have increased and more than one out of five smartphones sold during the quarter of 2023. With trust and durability, people are willing to spend more on Samsung’s top devices.   (Samsung)
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8/8 Along with the foldable, Samsung also launched Galaxy Tab S9 in the price range of USD 799 to USD 119. And two watches, Galaxy Watch6 and Watch6 Classic which starts from USD 299 and USD 399.  (Samsung)
China
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Shipments fell 2.1% in China despite “6.18” promotions. (AP)

Chinese smartphone shipments fell 2.1% in the second quarter, extending a market decline that may persist throughout 2023, research house IDC said.

The decline came despite widespread discounting during the “6.18” online shopping festival in June. Apple Inc. was one of the few brands that managed to grow business, by 6.1%, IDC estimated in its latest market report. Shipments from Honor Device Co. and Xiaomi Corp. both declined by more than 17% in the quarter, while Huawei Technologies Co. lifted shipments 76.1%, mainly via the premium P60 series and foldable devices. Oppo maintained pole position with 17.7% market share, followed by fellow Chinese brands Vivo and Honor.

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China's smartphone market, the world's largest, is struggling alongside a sputtering economy. Shipments have shrunk every quarter since the start of 2022, as consumers tighten their budgets to deal with a post-Covid downturn. The market could bounce back in the fourth quarter when Apple and its rivals typically release their latest devices, but that growth could be weaker than expected, IDC analyst Guo Tianxiang wrote.

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Signals from the supply chain have been mixed. Taiwan Semiconductor Manufacturing Co., which makes chips for firms that supply the likes of Xiaomi and Oppo, cut its full year sales guidance last week citing weak macroeconomic conditions and a slower-than-expected recovery in demand in China.

“There're few signs of a clear rebound in shipments from vendors and the supply chain, because consumer demand hasn't recovered,” according to IDC. “China's smartphone market is still at a low point.”

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First Published Date: 28 Jul, 07:37 IST
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