In a positive sign for China’s struggling mobile device industry, the country’s smartphone shipments saw a sharp increase in May, jumping 22.6% from previous months.
Phone makers shipped 25.2 million handsets last month in the buildup to China’s second biggest shopping festival, 6.18, which features discounts that stretch from late May into June… marking a rise of over 4 million units compared to the same period a year earlier, according to the China Academy of Information and Communications Technology.
Smartphone providers Apple, Samsung, Oppo and Vivo are likely to see improving demand later this year after a slump through 1H. We expect the smartphone market to drop 4% in 2023 to $480 billion, due largely to early weakness, but China’s reopening, the Apple iPhone 15 refresh cycle and the need to upgrade older devices could be leading catalysts for a rebound later this year and a stronger 2024 recovery. — Woo Jin Ho, senior industry analyst
MacDailyNews Take: Should bode well for Apple’s stock price.
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The post China smartphone shipments return to double-digit growth in May appeared first on MacDailyNews.
