BEIJING, May 17 (TMTPOST) — Vivo leads in the mid and high-end smartphone market (US$250~US$399) in China in Q1 without a market share of 28.2%, according to statistics released by market research firm Counterpoint.
Chinese smartphone brand Vivo enjoyed the highest market share in the mid and high-end market in China in Q1, accounting for 28.2% of the total market. Among 145 mid and high-end smartphone models within the price range of US$250~US$399, Vivo’s S12 series accounted for nearly 9% of the total sales volume, followed by Redmi K40, Honor 60, OPPO A93s and Huawei Nova 9.
The report from Counterpoint shows that China’s mid and high-end smartphone market grew by nearly 10% year-on-year in Q1. The mid and high-end market accounted for 25.5% of the total sales volume, registering a significant increase from the 16.9% two years ago. Statistics suggest that the competition in the high-end smartphone market has been intensifying. The price point for high-end smartphones has increased from below US$250 in Q1 2020 to above US$250 in Q4 2020.
Counterpoint concludes in the report that the mid and high-end market in China boasts a massive user base because of the rapid development of 5G technology and abundant Internet resources in the country. Consumers in the mid and high-end market would usually compare smartphone models from different brands before making a purchase. In response, smartphone brands have been releasing a number of smartphone models to cater to the growing demand in the market. Smartphones within the US$250~US$399 price range are most popular among consumers that are 24 years old or younger.
Counterpoint also notes in its report that 5G smartphones are becoming more popular in the Chinese market. In 2021, 5G smartphones accounted for 75% of the total sales volume while the number in 2020 was 42%. Many users replaced their 4G devices with new 5G devices that fell within the price range of US$250~US$399.