The world’s largest smartphone market is not the US. Heck, the US isn’t even second. China is in first place, followed by India and the USA in third place. However, 2022 was not a great year for the Chinese smartphone market, and according to analysts, growth is not expected this year either. China’s market may not grow until 2024 due to supply chain issues and low consumer spending.
Smartphone sales in China were weak even on Singles Day
The weakness of China’s smartphone market is not something that came out of the blue. According to the China Academy of Information and Communications Technology (CAICT), smartphone sales fell 23.6 percent in the first 11 months of last year. The latter is a research institute managed by the Ministry of Industry and Information Technology.
The iPhone was the best-selling smartphone brand in China as recently as 2022. in November
Even last November’s Singles Day was a failure. It’s an unofficial Chinese holiday that falls on November 11 and kicks off a season known for smartphone discounts. This holiday in China celebrates those who are not in a relationship. Usually, during this holiday, the sales of phones in the country are the highest. in 2022 Singles’ Day smartphone sales fell 36% year over year to 22.2 million.
According to CINNO, China’s smartphone sales in 2022 will reach 250-260 million It would be the worst year for smartphone sales in the world’s biggest market since 2015. CINNO Zhou does not expect China’s smartphone market to recover quickly this year. “Industrial production and market consumption will take time to gradually recover, and the impact (of China’s Covid policy) is expected to persist through the first quarter of 2023.” half a year
Smartphone innovation comes from China
The 4,600mAh battery that will keep the lights on in the Realme GT Neo 5 variant with 240W charging (there is another model with a 5,000mAh battery and 150W charging) could charge from 0% to 100% in just nine minutes. Imagine being able to drain your phone’s battery in less than 10 minutes.