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Key Takeaways
- Apple became the leading smartphone seller in China for the first time ever in 2023, according to International Data Corporation (IDC).
- IDC said Apple captured 17.3% of the Chinese smartphone market last year, the largest portion of any company.
- While overall shipments in China's smartphone market declined in 2023 from 2022, fourth quarter deliveries rose from a year earlier, potentially signaling a shift toward recovery.
Apple (AAPL) became the leading smartphone seller in China for the first time ever in 2023, according to preliminary data from International Data Corporation (IDC).
IDC said Apple captured 17.3% of the Chinese smartphone market in 2023, the largest portion of any company. The iPhone maker was followed by Honor, with 17.1% market share, OPPO at 16.7%, Vivo with 16.5%, and Xiaomi at 13.2%, while other smartphone brands collectively captured about 19.1%.
"Apple's climb to the top spot in 2023, especially in light of renewed competition from Huawei and the soft spending sentiment, marks a tremendous success for Apple," said Arthur Guo, a senior research analyst in Client System Research for IDC China.
Guo added that "Apple achieved this thanks to timely price promotions in its third-party channels, which stimulated demand."
Last year was a tough one for China's broader smartphone market, with its lowest volume in a decade amid a soft economic recovery and weak consumer sentiment. Overall smartphone shipments in the country declined to 271.3 million units in 2023, a 5% drop from 2022.
However, IDC noted some signs of a potential shift toward recovery, with deliveries in the fourth quarter up 1.2% year-over-year to 73.6 million units, "marking the end of ten consecutive quarters of year-over-year decline."
The change and Apple's climb to the top of IDC's market share ranking could help ease investors' worries surrounding Apple's iPhone sales in China and competition from other smartphone makers.
Apple shares were 0.3% lower at $193.84 per share as of about 3:30 p.m. ET Thursday. They've gained more than 36% over the past year.
"Smartphone" - Google News
January 26, 2024 at 03:43AM
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