China's Electronics and Information Manufacturing Industry Continues to Grow, Smartphone Market Remains Vibrant

China's Electronics and Information Manufacturing Industry Continues to Grow, Smartphone Market Remains Vibrant

China's Electronics and Information Manufacturing Industry Continues to Grow, Smartphone Market Remains Vibrant

The Ministry of Industry and Information Technology (MIIT) released a report on the operation of the electronics and information manufacturing industry from January to August 2024. The report shows that from January to August, the added value of the electronics and information manufacturing industry above designated size increased by 13.1% year-on-year, 7.3 percentage points higher than the growth rate of the overall industrial sector and 4.2 percentage points higher than the growth rate of the high-tech manufacturing sector. In August, the added value of the electronics and information manufacturing industry above designated size continued to grow steadily, increasing by 11.3% year-on-year.

Data shows that from January to August, mobile phone production reached 1.015 billion units, an increase of 8.8% year-on-year. Among them, smartphone production was particularly outstanding, reaching 751 million units, an increase of 10.4% year-on-year. This growth trend indicates that with technological advancements and rising consumer demand, the smartphone market remains vibrant.

Besides smartphones, the production of mini-computer equipment also saw steady growth. From January to August, production reached 217 million units, an increase of 2.9% year-on-year. This indicates that as people's demand for information processing and data storage continues to rise, the mini-computer equipment market is also showing positive growth.

It is worth noting that the production of integrated circuits, as the core components of the electronics and information manufacturing industry, has achieved significant growth. From January to August, integrated circuit production reached 284.5 billion pieces, an increase of 26.6% year-on-year. This growth rate demonstrates that under the drive of government policy support and market demand, China's integrated circuit industry is undergoing rapid development.

Overall, China's electronics and information manufacturing industry has maintained a good growth momentum in the first eight months of 2024. The continued growth of key industries such as smartphones, mini-computer equipment, and integrated circuits has laid a solid foundation for the future development of China's electronics and information industry. It is believed that in the future, China's electronics and information manufacturing industry will continue to achieve more brilliant achievements driven by innovation and market demand.

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