Huawei was also the fastest growing brand (240%) followed by Xiaomi (135%) and Bright and Quick (104%). Smartphone sales grew a healthy 25% YoY driven by Chinese brands
New Delhi, Hong Kong, Seoul, London, Beijing, San Diego, Buenos Aires – September 12th, 2018
According to the latest research from Counterpoint’s Market Pulse service, Russia smartphone sales grew a healthy 25% YoY during Q2 2018, the highest second-quarter growth rate since it was hit by the financial crisis in 2014. Growth was driven by strong consumer spending, new launches and expansion of trade-in offers and discounts by distributors, particularly in the run-up to and during the FIFA World Cup Finals that took place in Russia in June and July.
Commenting on the overall market, Anshika Jain, Research Analyst at Counterpoint Research said, “The average selling price of smartphones in Russia is increasing due to users upgrading from entry-level to mid-tier smartphones. OEMs, especially Chinese brands are launching more devices in the mid segment and attracting users through various offers like trade-ins, data bundling and higher memory capacity options for similar SKUs. As a result of this, Chinese brands have managed to gain market share and now capture almost 41% of the total smartphone market. The share of Chinese brands has grown over the period and they have gained share in the important $100-$199 price segment, driven by their competitive device offerings.”
Commenting on brand competition, Tarun Pathak, Associate Director at Counterpoint Research said, “Huawei became the fastest growing brand in Russia during the quarter. It surpassed Apple to become the second largest brand now. The rise of Huawei was due to strong retail tie-ups as well as recent partnerships with local ecosystem players like Yandex which helped it to expand its footprint in Russia. Additionally, Chinese brands are now ramping up their online presence across major e-commerce platforms to drive sales.”
Market Summary:
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