China's smartphone shipments increased in the third quarter of the year, fueled by a surge in device upgrades driven by sustained pent-up demand, according to a report from global market research company, International Data Corporation.
The report said that China's smartphone shipments grew 3.2 percent year-on-year to 68.8 million units during the July-September, marking its fourth consecutive quarter of expansion.
A significant wave of device upgrades is propelling the sustained recovery of the Chinese smartphone market, said Arthur Guo, senior research analyst in client system research at IDC China, adding that consumers are highly motivated to purchase new smartphones after three years.
Seeing the positive growth trajectory in China's mobile phone market, smartphone makers are ramping up efforts to roll out new products to entice consumers. Nubia Technology recently unveiled its latest handset targeting gaming and esports players, the Red Magic 10 Pro series, as part of its broader efforts to capture a bigger share of the world's largest mobile phone market.
The new phone, priced from 4,999 yuan ($692.7), is powered by Qualcomm's Snapdragon 8 Elite processor and Red Magic's self-developed gaming chip, and features a 6.85-inch OLED display panel that supports a 144Hz refresh rate offering a smooth gaming experience.
According to market research company Mordor Intelligence, the revenue of the global mobile gaming market is expected to rise from $100.54 billion in 2024 to $164.81 billion in 2029, with the compound annual growth rate reaching 10.39 percent during the growth forecast period.
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