Visitors try products of Chinese smartphone maker Honor at the 2023 edition of the Mobile World Congress (MWC) in Barcelona, Spain, on Feb. 27, 2023. (Xinhua/Meng Dingbo)
BEIJING, April 28 (Xinhua) -- Recent data from multiple institutions has shown that the global smartphone market continued to shrink in the first quarter this year, whereas potentials are seen for Chinese manufacturers to lead the recovery of industry through constant innovation and accelerated internationalization, reported Shanghai Securities News on Friday.
China is witnessing a growth momentum in innovative and high-end smartphones, according to a report released by the global market research firm International Data Corporation (IDC) on Thursday.
In the first quarter of 2023, China's total smartphone shipments came in at around 65.44 million. OPPO ranked first with 19.6 percent share of market, followed by Apple with 17.6 percent, said the report. Industry insiders said that the rising market share of domestic brands is a reflection of the progress made by Chinese smartphone firms through continuous efforts of innovation.
Data from the technology market research firm Canalys shows that the global smartphone market decreased 12 percent year on year in the first quarter, whereas the fact that Chinese manufacturers released new products at the end of the quarter had more or less brought some bright spots in the market.
Currently, Chinese manufacturers such as Xiaomi, OPPO, Vivo and Honor are all laying out their business towards high-end market. Experts believe that the global smartphone market is showing a trend of high-end development, with the market share of phones cost above 600 U.S. dollars reaching 55 percent in 2022, marking a record high.
(Edited by Yu Huichen with Xinhua Silk Road, yuhuichen@xinhua.org)
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