Apple Captured 68% of Smartphone Revenue during China's Online November 11 Festival Sales at the expense of Chinese Vendors
According to new research from Strategy Analytics, 9.0 million units of smartphones were sold during the "11.11 online shopping festival" in China this year, down -35% YoY. Apple solidified its leadership at the expense of Chinese brands. Xiaomi and Honor follow and rank in the top three list by volume share.
Peng Peng, Analyst at Strategy Analytics, said, “COVID-related disruptions, consumer fatigue, and economic headwinds made 11.11 lackluster this year in China. We estimated 9.0 million units of smartphones were sold during 11.11 online shopping festival this year, down -35% YoY. While smartphone online retail price grew to 4,089 CNY (US$ 580) this year thanks to the greater mix of higher-priced iPhones, up +10% YoY, the total smartphone online sales revenue still posted -29% annual decline at 36.8 billion CNY (US$ 5.2 billion).”
Linda Sui, Senior Director at Strategy Analytics, added, “Apple solidified the leadership during 11.11 festival this year. Apple sold nearly 3.5 million iPhone units, down -27% 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)."
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Linda Sui further noted that "Apple ranked top by volume share (39%) and revenue share (68%) at the expenses of Chinese brands. iPhone 14 series and iPhone 13 were on the top selling model list and dominated premier segment.
For information on Apple's competitors, read the full Strategy Analytics report.