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9.0 million units of smartphones were sold during the 11.11 online shopping festival in China this year, down 35% YoY, according to Strategy Analytics. Apple solidified its leadership at the expense of Chinese brands. Xiaomi and Honor follow and rank in the top three lists by volume share.
COVID-related disruptions, consumer fatigue, and economic headwinds made 11.11 lackluster this year in China. Strategy Analytics estimates 9.0 million units of smartphones were sold during the 11.11 online shopping festival this year, down 35% YoY. While smartphone online retail price grew to 4,089 CNY (US$ 580) this year thanks to the greater mix of higher-priced iPhones, up 10%, the total smartphone online sales revenue still posted a 29% annual decline at 36.8 billion CNY (US$ 5.2 billion).
“Apple solidified the leadership during the 11.11 festival this year. Apple sold nearly 3.5 million iPhone units, down 27% YoY but still outperformed the overall market which went down 35%. We estimate Apple generated a revenue of 25.1 billion CNY (US$ 3.5 billion), with a full retail price of 7,150+ CNY (1000+ USD). Apple ranked top by volume share (39%) and revenue share (68%) at the expense of Chinese brands. iPhone 14 series and iPhone 13 were on the top-selling model list and dominated the premier segment. Xiaomi ranked second in both volume share (31%) and revenue share (13%) and dominated entry to the mid-tier segment. Redmi 9A and Note 11 were sold well across all major platforms such as JD.com., TMall, Pinduoduo, and TikTok,“ said Linda Sui, Senior Director at Strategy Analytics.
Honor displaced OPPO (OnePlus) and ranked in the top three list by volume. It seized an 8% volume share, slightly increased from one year ago. However, it yielded third place to Huawei on revenue share this year. Huawei enjoyed a much solid retail ASP of 3,800 CNY (US$ 535) and captured a 5% revenue share. The company’s brand equity is still something that other Chinese vendors cannot match.
JD.com remained the major platform with a 45% smartphone volume share during the 11.11 festival this year, followed by TMall and Taobao (combined took 34% volume share). Alibaba (TMall and Taobao) as the runner-up has narrowed the gap by cultivating influential KOLs who hosted many live stream shopping events during 11.11. Other live stream platforms such as TikTok and Kuaishou also enjoyed share growth.
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