China smartphone sales drop 13% during 618 festival as memory costs limit discounts
Smartphone sales in China fell 13% year-on-year during the month-long 618 shopping festival, as brands raised prices to offset higher memory costs, according to data from Counterpoint Research. Higher memory prices amid a rapid build-out of AI infrastructure have pushed up handset costs this year, leaving brands with less room to offer steep discounts during the 618 festival, seen as a barometer for the country's booming e-commerce sector. "Some older and newer models from Chinese smartphone brands were priced higher than comparable models a year earlier, while discounts during this year's 618 festival were generally less aggressive, both in terms of the size of price cuts and the range of products covered," said Ivan Lam, senior analyst at Counterpoint Research.
