According to new research from Strategy Analytics, nine million smartphones were sold during 11.11 (Double 11) online shopping festival in China this year, down -35% year-over-year. However, Apple solidified its leadership at the expense of Chinese brands by capturing 68% of the smartphone revenue during the event.
The Singles’ Day or Double 11, originally called Bachelors’ Day, is a Chinese unofficial holiday and shopping season that celebrates people who are not in relationships. Nov. 11 is the date because the numeral 1 resembles a bare stick, which is Chinese Internet slang for an unmarried man who does not add ‘branches’ to the family tree.
“Apple solidified its leadership during the 11.11 festival this year,” says Strategy Analytic Senior Director Linda Sui. “Apple sold nearly 3.5 million iPhone units, down -27% year-over-year (YoY) but still outperformed overall market which went down -35% YoY. We estimate Apple generated the revenue of 25.1 billion CNY (US$ 3.5 billion), with the full retail price of 7,150+ CNY (1000+ USD).”
The tech giant ranked top by volume share (39%) and revenue share (68%). The iPhone 14 series and iPhone 13 were on the top selling model list and dominated the premier segment.
Article provided with permission from AppleWorld.Today
