Chinese smartphone firms are increasingly relying on Reliance Retail s distribution arm to reach stores in the hinterlands due to a slowdown in online sales. Xiaomi s sub-brand Poco has forged a strategic partnership with Jio Mart Digital to distribute its devices to around 80,000 retail stores across the country. This comes as offline retail channels accounted for 61% of sales in the first quarter of 2024, up from 56% in the previous three-month period. Xiaomi and Transsion saw the fastest growth in the quarter to March.
Vivo: The combined market share of Chinese brands has remained either flat or declining across key markets like Europe (35%), North America (12%), and Japan (8%), where Apple and Samsung have grown thanks to the premiumisation trend which has accompanied a lengthening of replacement cycles, the research firm said.
This presents a promising outlook for Apple in a critical market for its high-end iPhones. New data reveals that Chinese consumers are increasing their spending on smartphones to unprecedented levels, presenting a promising outlook for Apple in a critical market for its high-end iPhones.