According to a market report by Counterpoint Research, vivo has secured its position as the top smartphone brand in terms of sales in the second quarter of 2022. According to the report, vivo’s market share was 19.8%, down slightly from 21.1% in the first quarter of 2022. This feat came despite a 14.2% year-on-year drop in smartphone sales in China in the same quarter.
Research analyst Zhang Mengmeng said: “This quarter, vivo maintained its leading position. The mid-to-high-end S12 series helped vivo gain a decent share in the $250-$399 segment. The sub-brand iQOO also received positive market feedback, especially It’s feedback from younger customers.”
Compared to the peak of the epidemic (Q1 2020), the Chinese smartphone market saw a 12.6% drop in sales, less than half of what it was in Q4 2016, and comparable to the key iPhone 5 sales entering the race.
Senior analyst Ivan Lam’s assessment further links the setback to the general economic struggle the country is going through. “China’s economy grew by just 0.4% year-on-year in the second quarter of 2022, below market expectations of 0.8% to -1%,” he said.
Notably, major Chinese cities have implemented full or partial lockdowns during this period to control the spread of the COVID-19 virus. While these regulations are for the greater good, their negative impact on Pan-Shanghai, the financial and manufacturing hub, is undeniable. Year-on-year growth in the services sector was the most challenging (from 4% yoy in Q1 to 0.4% in Q2). Further reasons for the slowdown in sales are high competition rates, lagging consumer incentives to buy products and a perceived lack of innovation by consumers.
Despite the challenges, vivo continues to provide the market with quality and reliable smartphones. Vivo is expected to pursue its leading position by strengthening its brand in the premium segment. In addition, vivo’s strategic goal is to penetrate the trend of high-end foldable smartphones. The foldable smartphone is expected to post profitable sales in the second half of this year.
Carry a torch in a PH scene
vivo aims to launch the vivo T series and vivo X80 series in the second quarter of 2022, bringing its top performance to the Philippine market. These products further solidified vivo’s position in the mid-to-high-end smartphone segment. Each collection captures the interests of target consumers, from leisure to productivity needs.
Launched in May 2022, vivo T series With its turbo-powered performance, looks and cameras, it’s curated for gamers and consumers with a fast-paced digital lifestyle, taking the gaming experience to another level.
vivo has also challenged the limits of mobile photography with the vivo X80 series, setting a higher standard for shooting masterpieces, thereby empowering and inspiring photography enthusiasts. Launched in June 2022, the vivo X80 series continues its partnership with Zeiss embedded in its latest flagship smartphone camera.
As vivo continues to provide quality and reliable smartphones for different market segments, vivo is committed to the pursuit of excellence for the rest of the year.
Get regular updates about vivo through the official website website And vivo official Facebook, Instagramand YouTube.
