6.18 Online Festival in China:
Smartphone Sales Down 2% Annually
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TechInsights Wireless Smartphone Strategies (WSS) channel estimate that the smartphone sales during China’s second largest online shopping festival 6.18 (June 18th) in 2024 declined 2% year-over-year (yoy) to 13.1 million units, however, due to rising ASPs, smartphone market value almost remained flat yoy at CN¥ 62.3 billion (US$ 8.6 billion), overperforming the total online GMV (Gross Merchandise Volume) which shrank yoy by 3%.
