The smartphone market in China experienced a fairly deep contraction throughout this year's annual '618' shopping festival. According to the latest report from Counterpoint Research, the sales volume of mobile devices in the country dropped by 13 percent year-on-year during the four weeks of observation.
This weakening demand is believed to be caused by the rising prices of memory components, which triggered a surge in device production costs. This condition forced manufacturers to reduce the intensity of promotions and price discounts, which are usually the main attraction for consumers during the shopping festival period.
Amidst the widespread market downturn, Huawei emerged as an anomaly in the industry. The tech giant became the only major brand capable of recording positive sales growth amidst difficult economic market pressures.
Data compiled by the China Weekly Smartphone Sell-Out Tracker shows that Huawei's market share has now strengthened to 21 percent in weeks 22 to 25, rising sharply compared to the same period last year when it was only at 16 percent.
