According to market research firm Counterpoint Research, smartphone sales in China fell 13% year over year during the month-long 618 shopping festival, as major brands raised prices to offset higher memory costs. Between May 26 and June 21, all major Chinese smartphone brands except Huawei posted double-digit sales declines. Promotions were less aggressive than last year, dampening consumer demand. Honor’s sales dropped 33%, while Xiaomi’s fell 24%.
Ivan Lam, Senior Analyst at Counterpoint Research, said: “Some Chinese smartphone brands priced both their new and existing models higher than comparable devices a year ago. Discounts during this year’s 618 shopping festival were also generally less aggressive, both in terms of price reductions and the range of products included in promotions.” [Jiwei, in Chinese]
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