Equity Analysis /
China

CN : Technology - Others - Soft Feb 22 handset shipments in China

    Mark Po
    Mark Po

    Research Analyst

    CGS-CIMB
    25 March 2022
    Published by

    China handset shipments were down 31.7% yoy to 14.9m units in Feb 22 vs. a 17.7% yoy decline in Jan 22. Both local and overseas brands (mainly iPhone) saw a yoy decrease in shipments in Feb 22. 5G models accounted for 76.5% of total handset shipments in Feb 22, down further from 79.7% in Jan 22, 81.1% in Dec 21 and 82.2% in Nov 21. The performance of overseas brands seemed to be more resilient than that of local brands in Feb 22. The soft performance of Android camp shipments was in line with our discussion in a previous update. The analysis in this report is based on industry and macro figures and may differ from the views of individual analysts, in some cases.