Strategy Analytics: vivo leads Chinese smartphone market in Q3 2022

Strategy Analytics: vivo leads Chinese smartphone market in Q3 2022

BOSTON–(BUSINESS WIRE)–According to a new study from Strategy Analytics, smartphone shipments in China fell -16% year-on-year to 67 million units in Q3 2022. vivo regained the top spot with 21% market share, followed by OPPO (including OnePlus), Honor, Apple and Xiaomi. Among the Top 5 players, only Apple achieved the annual growth this quarter.

Yiwen Wu, Principal Analyst at Strategy Analytics, said, “Smartphone shipments in China declined to 66.9 million units in Q3 2022, down -16.0% year-on-year. This is the sixth consecutive quarter of annual decline in smartphone shipments. Inventory adjustments and weaker demand blaming macro headwinds weighed on the mixed performance.

Linda Sui, Senior Director of Strategy Analytics, said, “vivo regained the top spot in China in Q3 2022 with 14.3 million units of smartphone shipments. Its shipments, however, fell -21% year-on-year and its volume share fell to 21% from 23% a year ago. vivo renewed its product portfolio this quarter and we saw steady progress in the premium segment and the online channel. The Series X has helped the company build brand awareness among affluent and young users. Meanwhile, the updated iQOO series continues to shine in the online segment. OPPO (OnePlus) handset ranked second with 12.2 million unit shipments, grabbing 18% market share in Q3 2022. OPPO (OnePlus) saw the largest annual decline (- 27% YoY) this quarter among the top 5 vendors. OPPO has been less aggressive in launching new products this quarter in the domestic market amid economic uncertainties. The Reno 8 series on high-end and affordable 5G A models remained in the bestseller list. We recommend that the company take feasible steps to stabilize performance in the Chinese market. »

Peng Peng, an analyst at Strategy Analytics, added, “Honor ceded first place to vivo in the third quarter and ranked third with 12.1 million units of smartphone shipments. Honor’s impressive resilient track record paused and resulted in a -15% year-on-year decline in the domestic market. Honor slowed down its product launch cycle in the third quarter and only introduced the X40i and X40 in the home market. We expect the competition between Honor and vivo for the top spot to intensify in the coming quarters. Apple ranked fourth with 10.3 million units of iPhone shipments and 15% volume share this quarter, up from 13% a year ago. Apple outperformed the broader market and posted a +3% year-over-year growth rate. It is the only provider with the annual growth rate among the top 5 players. Growth is mainly driven by attractive price discounts on the iPhone 13 series and strong demand for the recently launched iPhone 14 Pro and 14 Pro Max in top-tier cities.

Yiwen Wu, Principal Analyst at Strategy Analytics, added, “Xiaomi fell to fifth position in China with 9.0 million units shipments this quarter. Its shipments fell -16% year-on-year, on par with the broader market. Xiaomi launched the women-focused Civi 2, the web-focused Redmi K50, the ultra-premium Mi 12s Ultra, and the Mix Fold 2 in the market in the third quarter. These models represent Xiaomi’s latest efforts to expand addressable markets. Xiaomi is facing tough competition in the online market, mainly from Honor. Meanwhile, its aggressive offline expansion has slowed. We expect the Chinese smartphone market to maintain its slowing trajectory over the next few quarters under continued COVID disruptions and economic headwinds. The high-end segment would outperform the mass market thanks to the deep pocket of affluent users in a context of economic uncertainties. We recommend major Chinese brands to launch more differentiated products to address the high-end segment. Meanwhile, careful inventory management is another challenge for all vendors in the following quarters. »

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