By Kate Yuan
(JW Insights) Feb 17 -- Chinese smartphone market gets off to a good start in 2023, with sales exceeding 7 million units in the week before the Chinese New Year, market research agency Counterpoint said on February 16.
Smartphone sales in China increased every week before the Chinese New Year and saw only a slight rise during the holidays over the previous year.
The industry is skeptical whether the strong sale in January can indicate a robust recovery in demand. Some believe the reasons are Chinese New Year season started earlier this year, and last year’s pent-up demand was unlocked in January.
Counterpoint said these strong sales do bring in some fresh air by helping digest the newly added inventory. With Chinese OEMs slowing down their overseas expansion, they would focus more on the domestic market and step up competition in the mid-to-high-end segments.
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