Counterpoint has released a new report that highlights Huawei's huge success despite the decline in global smartphone shipments. At the same time, Counterpoint noted that Huawei's smartphone business could achieve a rapid growth of 40% in 2024 if the production of Kirin chips continues to expand.
First, the report mentions that global smartphone shipments fell 5% year-on-year, to just 1.2 billion units in the third quarter of 2023. This is the lowest grade on the world market in the last decade. Still, by the end of the year, that number could grow to 3%, reaching 31.2 billion units.
Despite these challenges, Huawei has achieved outstanding results in this race. The Chinese tech maker had a good third quarter of this year, thanks to the Mate 60 5G flagship and the older P-series phones. In December, in addition to Huawei's Mate60 series to solve the bottleneck of production capacity, the mid-range Nova series released will also promote its shipment growth, and it is currently reported that nearly 30 million have been stocked.
On the other hand, Counterpoint's report** shows that Huawei's smartphone business could grow by 40% year-on-year if Kirin's production expansion is successful. The company is already working hard to promote Kirin chip manufacturing and is working with several partners around the world.
Counterpoint said shipments in North America and Europe will be the same as last year, but China and emerging markets such as the Middle East and Africa (MEA), India, and other successful reversals will be the new growth engine for the smartphone market from the fourth quarter of 2023. Smartphone shipments are expected to grow by 3% year-on-year in 2024, showing a relatively healthy trend.
In addition to Huawei, Counterpoint also highlighted Apple's growth, which has seen declining phone sales.
In the third quarter of 2023, Apple's chart shows a 3% year-over-year decline. One of the main reasons behind this result is Huawei's growth in the Chinese market and the extended replacement cycle of Japanese smartphones. However, it is expected that by the fourth quarter of 2023, the iPhone 15 Pro series' share of the iPhone 15 series will increase to 65%.
At the same time, IDC reports that by 2024, China's equipment shipments will exceed 28.7 billion units, a year-on-year increase of 36%。On the other hand, the move will boost the macroeconomy and user interest in better smartphones.
In addition, Counterpoint reported that global smartphone shipments will continue to grow in 2024 and are likely to grow by 3% year-on-year on a healthy trend.
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