Global China Smartphone Market size was valued at US$ 280.22 Mn. in 2020 and the total revenue is expected to grow at a CAGR of 13.3% through 2021 to 2027, reaching nearly US$ 671.60 Mn.
China Smartphone Market Overview:
The Global China Smartphone Market China is one of the world's main smartphone manufacturing countries, and it is predicted to continue to develop fast through 2027. In China, smartphone brands include Xiaomi, OnePlus, Oppo, Realme, Huawei, Honor, Vivo, and iQOO. In the third quarter of 2020, smartphone sales in China increased by 6% quarter over quarter. The country's smartphone market, on the other hand, was still down 13.3% year over year and had not yet recovered to pre-pandemic levels. The Chinese smartphone market has two distribution channels: online and offline.
Historical Forecast Period:
Maximize Market Research report presents the analysis of each segment from 2021 to 2027 considering 2020 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment calculated for the forecast period from 2020to 2027.
China Smartphone Market Overview and Dynamics:
The report covers comprehensive data on market drivers, restraints, emerging trends, and growth opportunities that can change the market dynamics of the end use industry. It provides an in-depth analysis of the China Smartphone Market segments which include products, applications, and competitor analysis.
The price range in which these Chinese smartphones are available, as well as the affordability they offer to tempt consumers from all walks of life, is a crucial element in their spectacular sales. Xiaomi announced its first 5G phone, the Redmi (k305G), in the first quarter of 2020 for $300. Apple attempted to emulate Xiaomi and other firms by introducing the iPhone 12 mini for $699, while Samsung attempted to do the same with the 'A' series, a mid-range phone series with prices ranging from $279 to $499.
Another problem is that, while Apple and Samsung only introduce premium and ultra-premium phones once a year, other firms sell mid-range and affordable phones with features that are quite similar to those of the iPhone and Samsung.
Because of its rapid rollout of the technology, China is among the global leaders in 5G adoption. By 2020, the region will have more than 200 million 5G connections, accounting for 87 percent of all 5G connections worldwide. China's 5G adoption is being aided by aggressive network expansion and a rich device ecosystem. Despite the arrival of Covid-19, Chinese operators deployed over 600,000 additional 5G base stations in 2020, with plans to deploy even more in 2021. In addition, Hong Kong and Taiwan's 5G networks currently cover more than 90% of the population, making both markets among the first in the world to reach this milestone.
4G adoption in China has reached a peak level as a result of the quick transition to 5G. As consumers shift to more abundant 5G services, 4G adoption decreased for the first time in 2020, and it is likely to continue to reduce in the forecast future. Consumers in China are more eager to upgrade to 5G than those in any other market. This is backed up by mainland China's increasing share of 5G gadget sales: In 2020, 163 million 5G devices were sold, accounting for around 53% of all smartphone shipments.
The COVID-19 pandemic has been effectively contained in mainland China, with only a few new cases reported locally in the third quarter of 2020. China's GDP expanded by 4.9 percent in the third quarter, following a 6.8 percent fall in the first quarter and 3.2 percent rise in the second. Despite a recent increase in activity and a decreased unemployment rate, China's local consumption has remained disappointing. The measured unemployment rate in China's city areas rose by 0.2 percentage points in September 2020, while the surveyed unemployment rate among college graduates aged 20 to 24 rose by 4%. Despite smartphone OEMs' best attempts to raise sales during the third quarter's post-Covid-19 pandemic recovery period, total market demand in China remained flat.
Due to the outstanding success of their new flagship series, OPPO and Vivo sales in China were down year over year but up over the previous Q3 quarter of 2020. The Reno 4/Reno 4 Pro 5G from OPPO, which saw a 90 percent rise in sales in the first quarter compared to its predecessors, was the standout. The OPPO Reno 4 5G appeared to be the only 5G smartphone featured in China's top-selling smartphone list, aside from Huawei's, due to its great performance.
Request for free sample: https://www.maximizemarketresearch.com/request-sample/85746
Get more Report Details
Segmentation:
The market is divided into two categories: online and offline. By 2027, the online distribution channel is predicted to have the greatest market share of %. In the first half of 2021, China's smartphone online retail sales accounted for 31% of total market shipments. Online retail sales are predicted to be somewhat lower in 2021 than in 2020 for the entire year, but revenue is expected to rise. 5G-enabled handsets, such as the Apple iPhone 12 series, will dominate the market from Q4 2020 to H1 2021. The majority of the 5G customers that were targeted, on the other hand, had already upgraded their phones. In China, the market has reached near saturation, with a 26-30 month smartphone replacement cycle.
The Chinese e-commerce industry is about to enter a new age. Livestream sales have expanded fast in terms of viewership since H2 2020, and they are projected to remain vital to smartphone OEMs in 2021. A smartphone OEM in today's China must have a sophisticated and comprehensive e-commerce channel strategy. These are the key factors that are projected to fuel the online distribution channel segment's growth in the China Smartphone market from 2021 to 2027.
Key Players:
• Huawei
• Apple
• OPPO
• Vivo
• Xiaomi
• Realme
• Meizu
• OnePlus
• Lenovo
• Honor
• TECNO
• ZTE
• Others
Regional Analysis:
Regional analysis is another highly comprehensive part of the research and analysis study of the China Smartphone Market presented in the MMR report. Local development plans are often affected by the performance of China Smartphone market. Our report briefly explains all the factors, market size, growth rate, import and export in regions covering North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. This research has provided market trends, key opportunities, factors affecting of particular regions, to examine the global and domestic China Smartphone market and these findings have been strategically presented in the report.
Competition Landscape:
Most of the key players present in the China Smartphone Market are focusing on mergers and acquisitions to expand their geographic presence and gain a competitive edge. Meanwhile, some of the other players are updating their existing product portfolios and adding innovative screens to keep up with the high consumer demand and generate more sales.
Key questions answered in China Smartphone Market report
- What was the market size of China Smartphone Market in 2020 and forecast up to 2027?
- Which is the largest regional China Smartphone Market?
- What are the major trends followed in China Smartphone Market across different regions?
- Who is the key China Smartphone Market companies leading the market?
- What are the key strategies adopted by the leading China Smartphone Market companies in market?
- Unique data points of this report
- Statistics on China Smartphone Market penetration and spending worldwide
- Recent trends across different regions in terms of adoption of China Smartphone Market for various end-use.
- Notable developments going on in China Smartphone Market
- Attractive investment proposition for segments as well as geography
- Comparative scenario for all the segments for years 2020 (actual) and 2027 (forecast)
If You Have Any Questions About This Report? Please Contact Us On the link mentioned below: https://www.maximizemarketresearch.com/market-report/china-smartphone-market/85746/
About Us:
Maximize Market Research provides B2B and B2C research on 12000 high growth emerging opportunities technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics Communications, Internet of Things, Food and Beverages, Aerospace and Defence and other manufacturing sectors.
Read more related insights:
Contact Us:
MAXIMIZE MARKET RESEARCH PVT. LTD.
3rd Floor, Navale IT Park Phase 2,
Pune Bangalore Highway,
Narhe, Pune, Maharashtra 411041, India.
Email: sales@maximizemarketresearch.com
Phone No.: +91 20 6630 3320
Website: www.maximizemarketresearch.com
