Huawei and Xiaomi led a resurgence in China’s smartphone market, which shook off oversupply issues and an ailing economy to register double-digit growth in October, reports Caixin. Phone sales in the world’s biggest mobile market rose 11% in the first four weeks of last month compared with the same period a year ago, according to Counterpoint Research data.
Huawei’s sales surged by 83%, while Beijing-based Xiaomi gained a third. Apple Inc.’s latest iPhone has had an unusually muted debut in China this year, and domestic rivals are capitalizing with a wide range of new products.
Shenzhen-based Huawei accounted for the bulk of the growth with its new Mate 60 series of phones, Counterpoint said. The electronics maker attracted global attention and consumer demand by introducing handsets powered by a novel made-in-China 5G chip, which it also added to an upgraded foldable model in the Mate X5.