Research shows that fewer people are buying mobile phones, but more people are buying expensive phones

Recently, research firm Counterpoint released a report showing that the global mobile phone market has decreased by 8% year-on-year and 5% month on month, marking the eighth consecutive quarter of year-on-year decline.From a brand perspective, the competitiveness of Xiaomi, OPPO, and vivo in some global markets has declined

Recently, research firm Counterpoint released a report showing that the global mobile phone market has decreased by 8% year-on-year and 5% month on month, marking the eighth consecutive quarter of year-on-year decline.

From a brand perspective, the competitiveness of Xiaomi, OPPO, and vivo in some global markets has declined. The research results of Counterpoint show that Xiaomi and vivo (including iQOO) are facing growth difficulties in markets such as India; OPPO suffered losses in the Western European market. In contrast, despite being affected by unfavorable seasonal factors, Samsung and Apple remain firmly in the top two, with a global market share of 22% and 17%, "surpassing the pack".

From a regional perspective, relatively developed markets such as the United States, Western Europe, and Japan experienced the largest decline, with annual declines reaching double digits. The decline in the markets of China, India, and Middle East Africa was relatively small. Therefore, various mobile phone brand manufacturers and channels have to seek to clear the excess inventory in the market through promotions and "big sales" activities. For example, China launched a series of mobile phone price reduction promotions during the "618" period, which to some extent prevented the continuous decline of China's mobile phone market in June.

However, in this context, the high-end mobile phone market is showing a "counter trend growth" posture.

This is due to the fact that "mature consumers pursue excellent experiences, coupled with many major regions offering convenient consumer finance policies." Counterpoint pointed out that in the second quarter of 2023, the high-end mobile phone (wholesale price of $600, approximately 4200 yuan or more) market was the only market to achieve positive growth, which greatly contributed to maintaining the stability of the overall mobile phone market. According to statistics, high-end smartphones accounted for over one fifth of all smartphones sold this season.

The sustained strong performance of the high-end market ensures that mobile phone revenue will not suffer as much as sales, which is also the reason for major brands to expand their markets and innovate new technologies. The report also predicts that as consumers pay more attention to high-end phones, driving continuous sales growth, and the global inventory level of mobile phones becoming increasingly healthy, the mobile phone market is expected to slowly recover in the coming quarters.

Southern+Reporter Xu Jun

Author: Xu Jun

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