by winston » Wed Nov 29, 2023 12:06 pm
China Smartphone Solid Growth in Shipment is Expected
Market channel check suggests that for the recent Double 11 period, China's smartphone sales in term of volume grew double digit YoY, driven by mid-teen growth in Android models and high-single digit in iPhone.
Market expects to see an acceleration in smartphone sales volume on low ' base comparison.
For models' discount, it is found that the discounts remained heavy for iPhone and for older models of Android, while, there was no discount on Xiaomi's 14.
According to Counterpoint, global smartphone sell through grew by 5% YoY in Oct, which was the first month recording growth in the past 27 months.
Market expects to see a positive YoY smartphone shipment growth in 4Q23/1Q24.
Related stocks:
▪ Sunny Optical (2382 HK), Xiaomi-W (1810 HK)
Source: Maybank
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