The COVID-19 outbreak had a strong negative impact on retail volume sales of smartphones in early 2020. A slow recovery in sales started to be seen towards the second half of 2020, which has extended into 2021.
Although Apple is set to continue to lead smartphones in 2021, Asus has provided a surprise amongst other smartphone players, with the expectation of double-digit growth. It has intentionally positioned its smartphones in a niche category to stand out amongst other brands.
Ever since Google has no longer supported software updates for Huawei smartphones, the Chinese brand’s sales performance has declined rapidly, as consumers have struggled to adapt to an entirely new operating system. There are a lot of alternatives in the market with full support by the Google software suite, which leaves very little motivation for consumers in Hong Kong to buy a Huawei phone.
Although smartphones is set to return to decline from 2020, demand for gaming phones is expected to continue to grow, as the gaming trend gains traction amongst enthusiasts. According to trade sources, the graphics requirement for modern smartphone games has grown significantly over the past five years; for consumers who are serious about mobile gaming, it has become an important element of consumer electronics.
LG has announced that it is halting the production of smartphones in 2021 and will terminate its smartphone business. LG has always been a relatively small brand in smartphones in the Hong Kong market, mainly due to the fact that it is not a brand that has particularly stood out in this category.
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Understand the latest market trends and future growth opportunities for the Mobile Phones industry in Hong Kong, China with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Mobile Phones research and analysis database.
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