Chinese Smartphone Players Perform Well in Q3 Despite Global Decline

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As for Xiaomi and Oppo, the two brands maintained their sales of 34.3 million and 29.9 million with their market shares of 9.7% and 8.4% respectively.

According to the latest research from Counterpoint's Market Monitor service, the global smartphone shipments declined 3 percent annually, recording 386.8 million units in 3Q 2018. Samsung continued to enjoy its status as king of the hill in Q3 with its 20.3% market share and 72.2 million shipments, but those numbers are down 13.4% from the year-ago quarter. Huawei remains the world's second largest smartphone vendor with 14 per cent share.

On the list of smartphone vendors, Apple is in third place after being in second place past year, with Huawei growing by 32.5 percent to 51.8 million shipments in the period and acquiring 14.4 percent of the market, compared to Apple's 13 percent.

Huawei retained second position for the second consecutive quarter, with 33% growth to 52 million units sold, as compared to 39.1 million during the same period a year ago.

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Xiaomi, Oppo and vivo saw a large improvement in markets outside of China.

Samsung is still the world's biggest manufacturer with 70.9 million shipments, but this is down 15 per cent year-on-year with the firm's market share falling to 20 per cent amid intense competition from Chinese firms.

The IDC report said smartphone vendors shipped 355.2 million units during, resulting in a 6 percent drop in shipments.

"The race at the top of the market continues to be a heated one as Huawei once again slipped past Apple to the second position", said Anthony Scarsella, research manager with IDC's Worldwide Quarterly Mobile Phone Tracker.

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"The brands will further expand outside China as they push into Asia Pacific countries and Europe", he added.

However, this also presents long-term growth opportunities for OEMs (Original Equipment Manufacturers), with many entering such markets with a view to increasing their sales, the report said.

Commenting on this market trend, Research Analyst Shobhit Srivastava noted, "The growth in the emerging markets is led by Chinese smartphone players that are venturing out of China to capture sales".

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