In the third quarter of 2024, the sales of Smart Phones in China increased by 3.2% year-on-year to 68.78 million units, maintaining year-on-year growth for four consecutive quarters.
On January 3, 2025, the State Council Information Office held a series of press conferences on "The Achievements of High-Quality Development of China's Economy." At the meeting, Yuan Da, Deputy Secretary-General of the National Development and Reform Commission, revealed that this year there will be a significant increase in the scale of ultra-long-term special government bond funding and the implementation of subsidies for new purchases of digital products such as Smart Phones.
Industrial Securities pointed out that the release of domestic demand is crucial for economic growth, while the current Chinese Consumer market is one that balances growth and existing stock. The consumption of new products and the upgrading of existing products together support the overall Consumer market. From the perspective of domestic brand market share, Android benefits more.
In 2024, the domestic Smart Phone market sales are expected to be about 0.28 billion units, and the stimulating effect of the subsidy policy on overall Smart Phone sales is expected to be concentrated in the range of Q1 2025 to H1 2025.
According to research reports from China International Capital Corporation, based on IDC data, global Smart Phone sales are expected to grow by 4% year-on-year in the third quarter of 2024, reaching 0.316 billion units, achieving year-on-year growth for five consecutive quarters. In the third quarter of 2024, Smart Phone sales in China are expected to grow by 3.2% year-on-year to 68.78 million units, maintaining year-on-year growth for four consecutive quarters. China International Capital Corporation is bullish on the implementation of national subsidy policies, with continued growth in demand for Consumer Electronics.
Hong Kong stocks related to the Smart Phone industry:
XIAOMI-W (01810), BYD Electronics (00285), Q TECH (01478), AAC TECH (02018), COWELL (01415), Sunny Optical (02382), etc.
