Strategy Analytics: Apple Takes 68% of Smartphone Profits During 11.11 Online Shopping Festival in China

Strategy Analytics: Apple Takes 68% of Smartphone Profits During 11.11 Online Shopping Festival in China

Boston – () –According to new research from Strategy analytics, 9.0 million units of smartphones were sold during the 11.11 Online Shopping Festival in China this year, down -35% year on year. Apple has strengthened its lead over Chinese brands. Xiaomi and Honor follow and rank in the top three in terms of size sharing.

ping ping“COVID-related disruptions, consumer fatigue and economic headwinds have led to a lackluster 11.11 this year in China,” said the analyst at Strategy Analytics. “We estimated 9.0 million units of smartphones were sold during this year’s 11.11 Online Shopping Festival, down 35% year-on-year. While the online retail price of smartphones grew to CNY 4,089 ($580) this year thanks to a larger mix of pricier iPhones, up +10% year-on-year, total online smartphone sales revenue still posted a year-on-year decline of 29% at CNY 36.8 billion (US$5.2 billion).

Linda SuiAdded, Senior Director at Strategy Analytics, “Apple cemented its lead during the 11.11 Festival this year. Apple sold nearly 3.5 million iPhone units, down 27% year-on-year, but still outperforming the overall market which fell -35% year-on-year. Annual basis.We estimate that Apple generated revenue of CNY25.1 billion (US$3.5 billion), with a full retail price of CNY7150+ (US$1000+).Apple ranked first in terms of volume share (39%) and market share Revenue (68%) at the expense of Chinese brands iPhone 14 and iPhone 13 series were the top selling models and dominated the first segment Xiaomi ranked second in both volume share (31%) and revenue share (13%) and dominated in entry To the mid-range segment. Redmi 9A and Note 11 have sold well across all major platforms such as, TMall, Pinduoduo, and TikTok.”

Yuen Wu, Senior Analyst at Strategy Analytics, added: “Honor replaced OPPO (OnePlus) and ranked in the top three in terms of volume. It accounted for 8% of turnover, up slightly from last year. However, it ranked third to Huawei in revenue share this year. Huawei enjoyed a very strong retail ASP of CNY 3,800 (US$535) and captured 5% of revenue share. The company’s brand equity is still something Chinese sellers can’t match.”

ping pingThe analyst at Strategy Analytics added, “ remained the leading platform with 45% smartphone volume share during this year’s 11.11 festival, followed by TMall and Taobao (together accounting for 34% volume share). Alibaba (TMall and Taobao) ) as the runner-up narrowing the gap by cultivating influencer KOLs who hosted several live-streamed shopping events during 11.11.Other live-streaming platforms such as TikTok and Kuaishou also enjoyed share growth.All industry stakeholders are advised to track smartphone online channels to monitor and evaluate the development China online market closely.At the same time, we have noticed that gaming phones and foldable phones are gaining popularity among young people this year in the China market.We encourage smartphone vendors to actively pursue growth in these segments.”

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