According to new research from Strategy Analytics, 14 million units of smartphones were sold during 6.18 online shopping festival in China this year. The research group says Apple solidified its leadership at the expense of Chinese brands.
“Apple solidified its leadership with impressive performance during the 6.18 festival this year,” Analyst Penn Peng says. “Apple outperformed the market selling nearly 7 million iPhone units, modestly down -4% year-over-year. We estimate Apple generated a revenue of 41.5 billion CNY (US$ 6.3 billion), with a full retail price of 6,300+ CNY ($950+). Apple ranked top by revenue share across all major platforms (JD, TMall and Pinduoduo etc.).”
The 6.18 Online Shopping Festival is the second largest and most important shopping festival in China. Each year from June 1-18, China’s e-commerce landscape is filled with large-scale promotional activities and discounts on popular products such as the iPhone.