vivo remains the market leader in the Chinese smartphone industry in Q2 2022
PHILIPPINES, AUGUST 15 2022 – vivo secured its spot as the top smartphone brand in terms of Q2 2022 sales according to Counterpoint Research market report. The report showed that vivo recorded a 19.8 percent market share, a slight dip from its 21.1 percent in Q1 2022. This feat is despite a 14.2 percent YoY decrease in Chinese smartphone sales in the same quarter.
Research Analyst Mengmeng Zhang said, “During the quarter, vivo maintained its leadership. The mid-to-high-end S12 series helped vivo grab a good share in the $250-$399 segment. Sub-brand iQOO also received positive market feedback, especially from younger customers.”
The trying times for the Chinese smartphone market are marked by a 12.6 percent decrease in sales volume compared to the peak of the pandemic (1st Quarter of 2020), less than half of Q4 2016, and can be compared to the critical sales when iPhone 5 entered the competition.
Senior Analyst Ivan Lam’s evaluation further associates this setback with the general economic struggle that the country is experiencing. He said, “China’s economy merely grew 0.4 percent YoY in Q2 2022, lower than the market expectation of 0.8 percent to -1 percent.”
It is essential to note that during that time, full or partial lockdowns were implemented in China’s major cities to regulate the spread of the COVID-19 virus. While these regulations have been for the greater good, their negative impact on the financial and manufacturing hub Pan-Shanghai is undeniable. The services sector suffered the most challenging YoY growth (from 4 percent YoY in Q1 to 0.4 percent in Q2). Further contributing to slower sales are high rates of competition with lagging consumer motivation to purchase products and consumers’ perceived absence of innovations.
Despite the challenges, vivo continues to provide the market with premium and reliable smartphones. vivo is expected to pursue its top position by reinforcing its brand in the high-end segment. Moreover, vivo strategically aims to penetrate the trend for premium foldable smartphones. Foldable smartphones project profitable sales in the latter quarters of this year.
Carrying the Torch in PH Scene
vivo aims to bring its top-tier performance to the Philippine market with the launch of vivo T Series and vivo X80 series in Q2 2022. These entries further solidify vivo’s position in the upper midrange to the high-end segment of smartphones. Each series captures the interest of its target consumers from leisure to productivity needs.
Launched in May 2022, the vivo T-series takes the gaming experience to another level with its turbo-driven performance, appearance, and camera carefully curated for the gamers and consumers with a fast-paced digital lifestyle.
vivo also empowers and inspires photography enthusiasts by challenging the limits of mobile photography and setting the standards for captured masterpieces even higher through the vivo X80 series. The vivo X80 series was launched in June 2022 boasting its continued partnership with ZEISS embedded in the camera of its latest flagship smartphone.
vivo commits to nothing less than excellence for the rest of the year as vivo continues to deliver premium and reliable smartphones to different market segments.
Get regular updates about vivo through its official website and vivo’s official Facebook, Instagram, and Youtube.
Reference Link: https://www.counterpointresearch.com/china-smartphone-sales-hit-new-low-q2-2022-honor-bucks-trend-doubles-sales/
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