Apple Alerts EU Regulators That Apple Ads and Maps Meet DMA Gatekeeper Thresholds 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
Netflix Nearing Major Deal to Acquire Warner Bros Discovery Assets 
Coupang Apologizes After Massive Data Breach Affecting 33.7 Million Users 
Sam Altman Reportedly Explored Funding for Rocket Venture in Potential Challenge to SpaceX 
Apple Leads Singles’ Day Smartphone Sales as iPhone 17 Demand Surges 
Microchip Technology Boosts Q3 Outlook on Strong Bookings Momentum 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
Wikipedia Pushes for AI Licensing Deals as Jimmy Wales Calls for Fair Compensation 
Firelight Launches as First XRP Staking Platform on Flare, Introduces DeFi Cover Feature 
Momenta Quietly Moves Toward Hong Kong IPO Amid Rising China-U.S. Tensions 
Nexperia Urges China Division to Resume Chip Production as Supply Risks Mount 
Smartphone shipments in China declined by 2.4% year-on-year in the second quarter of 2024, according to a report by Counterpoint Research. The overall market showed signs of stagnation amid continued macroeconomic uncertainty and weak consumer sentiment.
Despite the broader slowdown, Huawei saw strong momentum, with its smartphone sales surging 17.6% compared to the same period last year. The Chinese tech giant reclaimed the top position in the domestic market with an 18.1% share of total shipments. The growth is attributed to Huawei’s expanded product lineup and strong demand for its HarmonyOS-powered devices.
Meanwhile, Apple (NASDAQ: AAPL) experienced a modest sales decline of 1.6% year-on-year. The U.S. tech giant continues to face stiff competition from Chinese manufacturers and increasing regulatory scrutiny in the region. The launch of the iPhone 16 series in September 2024 helped cushion some of the losses but failed to reverse the overall trend.
Following Huawei in shipment rankings were Vivo, Oppo, and Xiaomi (OTC: XIACF), which continued to hold significant market shares but faced challenges in growing amid the tough economic climate and saturation in the mid-to-low-end segments.
Counterpoint analysts noted that while premium models continue to perform relatively well, the mid-tier segment is under pressure, and the market may remain subdued in the coming quarters.
The shift in consumer preference towards homegrown brands like Huawei highlights an evolving dynamic in China’s smartphone market. As domestic players ramp up innovation and ecosystem integration, foreign brands may need to recalibrate their strategies to maintain relevance.
Searches related to smartphone market trends, Huawei growth, and Apple China sales are expected to spike as stakeholders monitor the competitive landscape in the world’s largest smartphone market.
