Chinese smartphone brands see rapid growth in Middle East, Southeast Asia
Published: 6:30pm, 18 Feb 2025 Chinese smartphone makers are gaining more ground in the Middle East and Southeast Asia, according to the latest figures by Canalys, as they ramped up expansion in emerging markets amid stiff competition at home. In the Middle East, Chinese brands Transsion, Xiaomi and Honor all saw rapid growth in 2024 to take the second, third and fifth place in the region, excluding Turkey, according to a report by Canalys on Monday.
Transsion, a Shenzhen-based budget handset maker known for its dominance in Africa's smartphone market, saw its shipments in the Middle East grow 9 per cent to 8.3 million units last year, taking a 17 per cent share of the market. It was slightly ahead of Beijing-based Xiaomi, whose shipments jumped 33 per cent in 2024 to 8.1 million units, with a similar 17 per cent share. Honor, a Shenzhen-based spin-off brand from Huawei Technologies , saw the biggest gains with 67 per cent growth last year, shipping 3.2 million units, Canalys data showed.
The rapid growth of Honor, which expanded 30 per cent in the fourth quarter, was 'fuelled by aggressive product launches and regional expansion, including seven new experience stores in the [United Arab Emirates] and entry into Oman and Qatar', Canalys analyst Manish Pravinkumar said. The Honor Magic 7 and Magic 7 Pro series phones were unveiled in October 2024. Photo: Weibo/ 科技小辛 The Middle East's smartphone market as a whole grew by 14 per cent, double the pace of global shipments growth. Samsung Electronics remained the leading player in the region, shipping 14.1 million units to take 30 per cent of the market. That was down from 34 per cent in 2023, but its shipments in the region were flat.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
South China Morning Post
an hour ago
- South China Morning Post
With US-China rivalry ‘putting the squeeze on' Asian markets, is taking sides an option?
Caught in the undertow of swirling power plays between China and the United States, Asia has become like a piece of driftwood battered by the pounding of opposing tides. With key tariff deadlines approaching in July, and in light of lingering trade tensions between the world's two biggest economies, many countries in the region are facing a delicate, pragmatic choice: bow to Washington's growing pressure to crack down on supply chains and enforcement – or preserve the economic ambiguity that underpins their deep ties with Beijing? Asian countries have entwined their supply chains, technology, markets and investment with Beijing – accounting for one-third of China's total trade volume, or US$1.89 trillion last year. Meanwhile, some of them may need security assurances from the US amid the growing Chinese influence in the region, analysts said. China remains the top trading partner for 18 countries across the region and has been the largest trading partner of the Association of Southeast Asian Nations (Asean) for 15 consecutive years. Meanwhile, economic asymmetry and military advantage have often translated into Beijing's leverage in market power while, for many in the region, Washington represents security, diversification and strategic rebalancing, with its military presence, investment and advanced technology, analysts said. That leaves many Asian economies walking a tightrope – benefiting from China's vast market while remaining wary of the risks of over-dependence. For much of Asia, maintaining ties with both while caught in between has become a survival strategy.
South China Morning Post
12 hours ago
- South China Morning Post
Crypto confiscated in Beijing to be liquidated in Hong Kong through licensed exchanges
Beijing's police authority has unveiled a plan for liquidating cryptocurrencies confiscated in criminal cases by selling them through licensed exchanges in Hong Kong, a move that could aid the southern city's efforts to become a virtual asset hub. The municipal Public Security Bureau in Beijing said on Thursday that it has partnered with the China Beijing Equity Exchange (CBEX) to offload seized cryptoassets through regulated platforms in Hong Kong. Under the 'Framework Agreement on Handling Seized Virtual Currencies', CBEX will be responsible for appointing third-party agencies to sell the assets through the exchanges. Proceeds will be converted into yuan and deposited in designated accounts, according to a statement posted on the bureau's official WeChat account. This marks the first time that a mainland agency has detailed a process for disposing of confiscated cryptoassets, while working within Hong Kong's virtual asset regime to offload them. Mainland China enforces a strict ban on crypto trading, complicating efforts to handle such assets seized by law enforcement. From 2019 to June 2024, Chinese authorities publicly documented 2,206 criminal cases involving digital currencies, according to Wolters Kluwer's database. In a September report, the People's Court Daily, a newspaper under the Supreme People's Court, estimated that the value of cryptocurrencies awaiting disposal by Chinese authorities by the end of 2022 exceeded several billion US dollars. In 2023, the value of crypto involved in criminal cases surged to 430.7 billion yuan (US$60 billion), a 12-fold increase from the previous year.
RTHK
13 hours ago
- RTHK
Hang Seng Index ends day on a weak note
Hang Seng Index ends day on a weak note The Hang Seng Index ended trading for the day down 114 points at 23,792. File photo: AFP Hong Kong and mainland Chinese stocks ended slightly lower on Friday, as investors remained cautious after a call between President Xi Jinping and his US counterpart, Donald Trump, failed to provide clear signals of progress in easing trade tensions. Trump and Xi confronted weeks of brewing trade tensions and a battle over critical minerals in a rare leader-to-leader call on Thursday, leaving key issues unresolved for future talks. "If you look at the conversation between the Chinese and US presidents, there's nothing concrete that's positive. So little impact on stocks," said Guo Jianwen, partner at Shanghai-based hedge fund Haiyi Capital. In Hong Kong, the benchmark Hang Seng Index ended trading for the day down 114.43 points, or 0.48 percent, at 23,792.54. The Hang Seng China Enterprises Index fell 0.63 percent to end at 8,629.75 while the Hang Seng Tech Index fell 0.63 percent to end at 5,286.52. Across the border, the blue-chip CSI300 Index fell 0.1 percent. The benchmark Shanghai Composite Index ended up 0.04 percent at 3,385.36, while the Shenzhen Component Index closed 0.19 percent lower at 10,183.70. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, lost 0.45 percent to close at 2,039.43. For the holiday-shortened week, the CSI 300 Index gained nearly 1 percent, while the Hang Seng Index rose 2.2 percent. (Agencies)
