China’s smartphone market shows signs of revival amid strong demand for Huawei’s new 5G handsets, Apple’s latest iPhones during ‘golden week’ holiday

China's smartphone market, which has been struggling for the majority of the year, is now showing signs of recovery. This resurgence is largely due to the high demand for Huawei's new 5G handsets and Apple's recently launched iPhone 15 series. During the 'golden week' holiday, a significant celebration in China, there was a 15% increase in smartphone sales compared to the same period last year. This information comes from Kuo Ming-chi, an analyst at TF International Securities who specializes in Apple-related matters. Kuo predicts that the downturn in the Chinese smartphone market will soon come to an end, with growth expected to resume in the fourth quarter of this year. The smartphone market in China has been negatively impacted by macroeconomic issues and disruptions caused by the coronavirus pandemic. These factors have led to a decrease in consumer demand and a decline in smartphone sales since 2017. However, the 'golden week' sales indicate a positive shift in consumer sentiment, despite the country's ongoing economic recovery challenges. The remainder of the year looks promising, with the release of new 5G smartphones from Huawei and Apple, as well as the upcoming winter sales season. Additionally, China's smartphone export volume increased by nearly 30% in September, a clear sign of market recovery. Despite these positive signs, the total smartphone export volume from January to September is still down 8. 5% compared to last year. Both Huawei and Apple are experiencing success with their new releases. Huawei's Mate 60 Pro and Mate 60 Pro+ handsets have sparked patriotic fervour and strong local demand, marking the company's return to the 5G smartphone market. Apple's new iPhone 15 series has also been well-received, with consumers willing to wait up to five weeks for delivery of the top-of-the-line iPhone 15 Pro Max.