Huawei Bounces Back in China with Domestic Chipset as Apple Takes Top Spot Despite Market Decline
• Huawei regained ground in China in Q4 2023, emerging to 4th place with shipments nearly doubling year-over-year • Apple took the top spot in Q4 2023 and full year 2023 in China for the first time, with 6% and 1% growth respectively • Overall China smartphone shipments declined 5% year-over-year in 2023, marking the worst year in a decade • Huawei's resurgence was driven by the launch of its Mate 60 Pro phone with a domestically manufactured chipset • The smartphone market is expected to see moderate recovery in 2024 amid heavy investments in AI by companies