China’s smartphone sales grew 6.8% year-over-year (YoY) during week 21 to week 24 of 2024, the period corresponding to the 618 shopping festival, according to Counterpoint. The research group says Apple’s sales grew 2.7% year-over-year, benefiting from stronger promotions and an extra week of sale prices compared to 2023.
The iPhone maker offered the biggest-ever discounts, reaching up to RMB 2,350 (~$326), during the period to entice consumers, especially given the strong competition from Huawei in the premium segment.
According to Counterpoint, most smartphone manufacturers were offering price discounts that were similar to last year’s, indicating a demand warm-up. Notably, this year’s 618 festival, spanning from May 20 to June 20, lasted longer than usual as promotions started on May 20 at Tmall. In 2023, the 618 period was from May 31 to June 18. This extended promotional period also contributed to the growth this year.
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Article provided with permission from AppleWorld.Today
