BEIJING - China's smartphone industry is witnessing a significant rebound, with major domestic brands like Huawei and Xiaomi (OTC:XIACF) reporting robust sales growth. This resurgence comes after an eight-month period of sluggish performance, marking a turning point for the sector.
In early October, Huawei Technologies, headquartered in Shenzhen, catalyzed a revival in the market with an impressive 83% surge in sales. This uptick was largely credited to the popularity of their Mate 60 series phones, which feature a domestically-produced 5G chip that has also been incorporated into their enhanced Mate X5 foldable model. The chip's innovation and the Mate X5's global appeal have played a crucial role in Huawei's recent success.
Adding to the momentum, Beijing-based Xiaomi unveiled its latest flagship smartphones on October 26, leading to a one-third increase in their sales figures. The company's strategic product launch capitalized on the quieter-than-usual release of Apple (NASDAQ:AAPL)'s latest iPhone in China, allowing Xiaomi and other domestic competitors to gain ground.
The combined efforts of these Chinese tech giants contributed to an 11% overall growth in the nation's smartphone market compared to the previous year. This growth signifies a recovery from earlier challenges, including market oversupply and economic obstacles.
This turnaround in China's smartphone market highlights the resilience and innovation of domestic brands as they navigate through competitive challenges and geopolitical tensions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.