Xiaomi bucks trend of contracting China smartphone market in third quarter: Counterpoint

In this news, we discuss the Xiaomi bucks trend of contracting China smartphone market in third quarter: Counterpoint.

SHANGHAI (Reuters) – The Chinese smartphone market continued its steady contraction in the third quarter, with shipments down 14% year-over-year, research firm Counterpoint reported on Friday.

Xiaomi Corp 1810.HK was the only brand to see growth in the quarter, with sales in China up 8% year-over-year. Its overall market share increased from 9% to 11% in the same period last year. Counterpoint attributed the performance to aggressive promotions as the company celebrated its 10th anniversary in August.

Apple Inc AAPL.O and Huawei Technologies Co Ltd both saw their sales drop, breaking a streak of growth that lasted for several quarters.

Apple’s sales in China fell 7%, while Huawei’s fell 3%. Their overall market shares, however, have remained relatively stable, with Apple at 8% and Huawei at 45%.

Both companies launched new flagship devices in October, with analysts expecting strong demand. the iPhone It was the best-selling phone of the quarter, according to Counterpoint, although it lacks 5G.

Uncertainty remains over Huawei’s ability to capture this demand, as restrictions placed on the company by the United States limit its supply of chips and other components.

Richard Yu, CEO of Huawei’s consumer business unit, said over the summer that the company would no longer be able to produce its high-end line of Kirin chipsets starting in September.

Reporting by Josh Horwitz; Editing by Nick Tattersall

Original © Thomson Reuters Corporation

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