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

Breaking

By PanTech

test banner

Post Top Ad

Responsive Ads Here

Post Top Ad

Responsive Ads Here

October 30, 2020

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


(Reuters) China’s smartphone market continued its steady contraction in the third quarter, with shipments declining 14% year-on-year, research firm Counterpoint reported on Friday.


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


Apple Inc and Huawei Technologies Co Ltd both saw sales decline, breaking a growth streak that lasted several quarters.


Apple’s sales in China fell 7%, while Huawei’s dropped 3%. Their overall shares of the market, however, 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 11 was the quarter’s best-selling phone, according to Counterpoint, despite not having 5G.


Uncertainty remains about Huawei’s ability to capture that demand, as restrictions imposed on the company by the U.S. crimp its supply of chips and other components.


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


Source: Reuters; Reporting by Josh Horwitz; Editing by Nick Tattersall

No comments:

Post a Comment

Post Top Ad

Responsive Ads Here