(MENAFN) The first quarter of 2024 marked a notable rebound in China's smartphone exports, with a 6.5 percent increase compared to the same period last year, reaching a total of 69.3 million units. Despite the growth benefiting from a relatively low comparison base from the previous year, this upturn signifies the second consecutive quarter of expansion, indicating a strengthening recovery in the market. This analysis comes from the latest report by the renowned market research firm, the International Data Corporation (IDC).
Driving this surge were notable performances by brands like Honor and Huawei, which saw robust demand for their products. The festive season surrounding the Lunar New Year further stimulated consumer interest, particularly in low- and medium-priced devices, contributing to the overall growth in exports. Additionally, the steady rise in sales of foldable devices emerged as a significant trend, experiencing an impressive 83 percent year-on-year increase, totaling 1.86 million units exported during the first quarter.
Efforts to maintain competitive pricing for consumers, coupled with occasional discounts, played a pivotal role in preventing substantial price hikes across products. However, slight price increments were observed in April, albeit at the slowest pace in three months. These price adjustments were primarily attributed to rising input costs, underscoring the delicate balance between market dynamics and production expenses in the smartphone industry.
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