Investing.com — New information from Bernstein reveals that Huawei outpaced iPhone in smartphone shipments in China throughout July 2024.
The agency defined in a notice that whole smartphone shipments in China grew by 14% year-over-year (YoY), with Huawei main the expansion at 67%, contributing to half of the whole improve.
In distinction, iPhone shipments are mentioned to have fallen by 9%, following a surge in demand throughout Might and June when Apple (NASDAQ:) supplied enticing reductions.
In the meantime, non-Huawei Android smartphones additionally noticed an 11% progress, indicating a broader restoration within the Android market.
“Observe the quick YoY progress of Huawei was vs. a low base, & sequentially Huawei’s cargo has been flattish for some months.,” wrote Bernstein.
They added that the decline in iPhone shipments suggests the demand increase from earlier months has waned.
For the yr to this point (YTD), Bernstein says smartphone sell-through in China has risen by 9%, with Huawei experiencing a 68% improve, Apple declining by 7%, and different manufacturers rising by 3%.
This 9% YTD improve is forward of Bernstein’s preliminary projection of seven%, although the analysts stay cautious as shipments within the second half of 2023 had been already greater, and the remainder of 2024 can be in contrast in opposition to a stronger base.
A notable development in July was mentioned to be the continued shift towards high-end smartphones, notably within the non-Apple and non-Huawei segments.
The development, probably pushed by synthetic intelligence (AI) developments, is predicted to profit corporations like MediaTek, Qualcomm (NASDAQ:), and Arm, with the latter seeing positive factors from greater royalty charges attributable to elevated v9 adoption in premium smartphones.
Whereas there are lingering considerations about iPhone inventories in China, Bernstein doesn’t view this as a major subject for buyers.
“We notice that Apple has commented that international channel inventories exited the June quarter on the low finish of historic ranges, and we don’t see channel stock as a problem for buyers,” they wrote.