China’s smartphone market recorded a 2.3% YoY increase in Q3 2024, according to Counterpoint Research, marking four consecutive quarters of growth and its first annual rise since 2019. Local brands lead the market, with vivo holding the top spot, followed by Huawei and Xiaomi.
Vivo secured a 19.2% market share with a diverse portfolio across price points. Huawei claimed a 16.4% share and posted a 30% YoY increase, driven by high demand for its Pura 70 and Mate 60 series in the premium segment. Xiaomi placed third with 15.6%, thanks to the strong performance of its Redmi K and Mi series.
Foldable phones continue to generate excitement, highlighted by Huawei’s Mate XT – the world’s first trifold smartphone – launching at a starting price of $2,808. Honor and Xiaomi also expanded their offerings, with Honor debuting the Magic V3 and Xiaomi releasing the Mix Flip and Mix Fold 4.
Apple’s iPhone 16 series, released in September, has further boosted market growth, with over 70% of sales stemming from its premium Pro and Pro Max models.
As Q4 begins, Chinese smartphone makers are gearing up for fierce competition. Major brands, including vivo, Huawei, Xiaomi, and Oppo, plan to launch flagship devices with upgraded chipsets, alongside new mid-range models for mass appeal.
