Business News Asia
The China Institute of Information and Communications Technology (CAICT) reported that smartphone shipments in China fell 22% in the first ten months of this year, due to the impact of slowing domestic demand and supply chain issues in China’s manufacturing sector.
According to CAICT data, a total of 214.5 million smartphones were shipped from January to October this year, down from the same period last year when 275.3 million devices were sold. The CAICT is a scientific research institute under the supervision of China’s Ministry of Industry and Information Technology.
In October alone, Chinese smartphone shipments fell 27.2% year-on-year to 23.8 million units, but this is still better than November’s 19.8 million units.
The latest data from the CAICT shows that the Chinese smartphone market continues to struggle to recover due to weak demand. In addition, the stagnation of the domestic economy and the introduction of travel restrictions under the zero COVID policy have led to a decline in the number of travelers.
IDC, a technology research firm, said in a recent report that the Chinese smartphone market is likely to weaken slightly in 2023 before recovering in 2024, as the recovery of consumer confidence and the Chinese economy could take a long time.