New dynamics in the high-end smartphone market: Apple and Huawei lead, while domestic brands catch up vigorously.

In the global smartphone market during the third quarter of 2024, competition among major brands remained fierce, but the landscape of the high-end market has gradually become clearer.

According to the latest data from Canalys, the global smartphone market grew by 5% year-on-year, achieving a year-on-year rebound for the fourth consecutive quarter. Global smartphone shipments are expected to reach 1.22 billion units in 2024, an increase of 6% year-on-year. The high-end smartphone market has become the focus of competition among major brands.

From a global perspective, in the price segment above $600 (approximately RMB 4,355) in the third quarter of 2024, the market share rankings were Apple with 63%, Samsung with 21%, Huawei with 8%, Google with 2%, and Honor with 2%. Among them, Apple topped the list with a 63% market share.

Source: Canalys

In the Chinese mainland market, in the price segment above $600 (approximately RMB 4,355) in the third quarter of 2024, Apple ranked first in the high-end market with a 52% market share. Despite a year-on-year decline of 5%, its leading position remains unshaken. Huawei followed closely with a 33% market share, up 34% year-on-year, showing strong growth momentum. Honor, Xiaomi, and Samsung ranked third to fifth with market shares of 5%, 3%, and 3%, respectively. Xiaomi achieved a year-on-year growth rate of 88%, making it one of the fastest-growing brands this quarter with outstanding performance.

It can be seen that in the price segment above $600 (approximately RMB 4,355) in the Chinese mainland market, Apple and Huawei have demonstrated strong market dominance.

Source: Canalys

Apple and Huawei's ability to maintain their leading positions in the high-end smartphone market is attributed to their precise market strategies and powerful product capabilities.

Although Apple has been criticized for its incremental updates in recent years, thanks to its early technological accumulation, iPhone's chip performance, system fluidity, and application ecosystem remain at the forefront of the mobile phone industry. Meanwhile, in response to the rise of Android phones and systems, Apple is actively developing new features, such as Apple Intelligence, to maintain its competitiveness in the mobile phone market.

Huawei, with its years of accumulation in the field of communication technology and continuous investment in chip research and development and imaging systems in recent years, has achieved a comprehensive improvement in product strength. In addition, Huawei has enhanced its brand image and recognition among consumers by strengthening brand promotion and marketing. These efforts have also enabled Huawei to compete with Apple in the high-end smartphone market.

Source: Huawei

Of course, the performance of domestic smartphone manufacturers such as Honor and Xiaomi in the high-end market is also noteworthy. These manufacturers have continuously improved the performance and quality of their phones through investment and research and development in mobile phone systems, imaging, and hardware, ultimately gaining recognition from consumers, translating into actual sales, and increasing their share of the high-end market.

However, domestic smartphone manufacturers still need to make more efforts to gain a firm footing in the high-end market.

For the high-end smartphone market, in addition to maintaining basic research and development, technological innovation is the key to attracting consumers. Nowadays, with improved hardware research and development capabilities, the popularization of 5G technology, and the rapid development of artificial intelligence technology, consumers have higher expectations for the powerful performance and high intelligence of smartphones. Smartphone manufacturers need to increase investment in these areas.

At the same time, domestic smartphone manufacturers also need to launch innovative and differentiated smartphones to not only meet the diverse needs of consumers but also increase user stickiness through unique features. They can also learn from high-end brands such as Apple and Huawei, strengthening brand building and marketing efforts to enhance their brand image and recognition, so that when consumers mention the brand or a specific model, they associate it with "high-end".

In summary, in the third quarter of 2024, Apple and Huawei maintained their leading positions in the high-end smartphone market, but the rapid growth of domestic brands such as Honor and Xiaomi cannot be ignored.

   Source: LeiKeJi