China smartphone sales see worst-performing quarter since 2020 with 14 pc decrease: Counterpoint Research

China’s smartphone sales slid 14 per cent in the first quarter of 2022 to 74.2 million units, as economic headwinds hit consumer sentiment

In the first quarter, Chinese smartphone maker Vivo led the pack with 19.7 per cent market share

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Vivo led the smartphone market in China in the first quarter, according to Counterpoint. Photo: Handout

Published: 7:00am, 29 Apr 2022

Smartphone sales in China saw the worst-performing quarter since the country was first swept by Covid-19 two years ago, according to data from Counterpoint Research, which cited weaker consumer sentiment amid economic headwinds and ongoing disruption due to coronavirus outbreaks.

China’s smartphone sales slid 14 per cent in the first quarter of 2022 to 74.2 million units, according to a report published by Counterpoint on Thursday.

Consumer demand was already waning before the recent wave of Covid-19 infections, and combined with slowing economic growth, a decline in retail sales growth and record-high unemployment rates in big cities, the impact on the sector has been significant, said research analyst Mengmeng Zhang.

“We expect smartphone demand to continue to be underwhelming due to weak consumer sentiment and lack of new innovations to stimulate consumers,” Zhang added.

China’s economy grew by 4.8 per cent in the first quarter of 2022 year-on-year, beating expectations but below the government’s 5.5-per cent annual growth target.

Since February, large cities including Shenzhen, Guangzhou, Shanghai and Beijing have all imposed various levels of lockdowns. China’s financial hub Shanghai, which has 25 million residents, has been hardest hit and has yet to announce plans to lift a citywide lockdown that began on April 1 and which has resulted in an array of supply chain disruptions.

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China smartphone sales see worst-performing quarter since 2020 with 14 pc decrease: Counterpoint Research

China’s smartphone sales slid 14 per cent in the first quarter of 2022 to 74.2 million units, as economic headwinds hit consumer sentiment In the first quarter, Chinese smartphone maker Vivo led the pack with 19.7 per cent market share

China’s smartphone sales slid 14 per cent in the first quarter of 2022 to 74.2 million units, as economic headwinds hit consumer sentiment

In the first quarter, Chinese smartphone maker Vivo led the pack with 19.7 per cent market share