The "618 event" is China's second largest shopping festival after Singles Day in November, and was initiated in 2004 to mark JD.com's founding anniversary. China’s smartphone sales fell 8% YoY during the 618 sales period in 2023 (June 1-June 18), indicating weak customer demand for smartphones amid economic headwinds, according to Counterpoint’s 618 Sales Period Thematic Report.

In terms of the competitive landscape for smartphone brands, Apple hit 17.9%, delivering an 8% YoY increase without facing any significant competition in the premium space. To boost iPhone sales during the 618 period, e-commerce websites offered discounts of around 20%.

(Click on image to Enlarge)

The price cuts implemented by OEMs proved effective in helping the market recover from the significantly low smartphone sales witnessed in May and April. During the June 1-June 18 period, the total market sales increased by around 30% compared to the previous 18 days. For more, read the full Counterpoint report.