China's 618 Smartphone Sales Drop 13% Year-on-Year
Smartphone sales in China saw a 13% year-on-year decline during the 618 shopping festival, according to Counterpoint Research. Price increases by major brands and less aggressive promotions contributed to the drop.
Smartphone sales in China decreased by 13% year-on-year during the recent 618 shopping festival, as reported by market research firm Counterpoint Research. The decline is attributed to major brands raising prices to offset increased memory costs, coupled with less aggressive promotional activities compared to the previous year.
Between May 26 and June 21, most significant Chinese smartphone brands experienced double-digit sales declines, with Huawei being the exception. Honor's sales fell by 33%, and Xiaomi's sales decreased by 24% during the festival period.
Ivan Lam, Senior Analyst at Counterpoint Research, noted that some Chinese brands increased prices on both new and existing models. "Discounts during this year's 618 shopping festival were also generally less aggressive, both in terms of price reductions and the range of products included in promotions," Lam stated.
The reduced promotional intensity and higher price points appear to have dampened consumer demand during one of China's major online shopping events, reflecting shifts in market dynamics and cost pressures for manufacturers.