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Mobile Phone Competition Landscape: One Plus Ace 2 Launched, E-Commerce As Core Battleground, Growing Focus on Core Profit-Driving Models
2023-03-03

The One Plus Ace series continously breaks sales record

One Plus Ace 2 officially launched on February 13th. According to Sandalwood's China E-Commerce data, Ace 2 e-commerce sales grew 332% YoY compared to the previous generation as of Feb 21, elevating ACE series sales to a new high. One Plus' e-commerce market share in turn grew to 6.4%. 

One Plus immediately grasped market attention at the beginning of 2023 with the on-point launch of ACE2. Competition between key growth-driving products of mid-tier mobile phone brands has become ever-fierce.

 

 

Recaping on the performance of mid-tier product lines on e-commerce platforms over the past two years, competition between One Plus Ace, Redmi K series, Realme GT Neo, and IQOO Neo has been constantly intensifying. The Redmi K series is Xiaomi's key driver; One Plus ACE is instrumental in One Plus' success; GT Neo is Realme's main series, and Neo is IQOO's mid-range power - neck-to-neck competition is inevitable.

 

With series expansion comes product scale maximization. The competition amongst mid-tier product lines is forming around key profit-driving products, and has also gradually shifted from tech-oriented to experience-oriented.

 

E-commerce market is no longer merely a place where customers seek the best price, but has become the main battlefield for companies omnichannel sales strategy.

 

The e-commerce market is gradually becoming the main sales channel. In 2022, the online retail sales of physical goods reached 11.96 trillion yuan which accounts for 36.3% of the total retail sales of consumer goods (excluding catering, petroleum and petroleum products, and automobile sales by designated enterprises). 

 

The e-commerce market is a keyl market for smartphones under the downward trend of the overall market. E-commerce share in the Chinese smartphone market continues to increase, reaching 36% in 2022, and is expected to hit 38% in 2023.

 

The average price of the overall e-commerce market reached 3,472 yuan in 2022, which is no longer lower than the offline market. In 2022, despite market downturn, e-commerce sales attained year-on-year growth.

 

From a competition standpoint, e-commerce still has large growth potential. In 2022, Apple sales accounted for 26% of the total e-commerce sales (with revenue  accounted for 52%). Android also has a lot of room to grow. 

 

For latest data and insight, contact us at: service@sandalwoodadvisors.com.

Disclaimer: The content and viewpoints expressed in this article are for reference purposes only and should not be construed as investment advice or recommendations. very investor should conduct thorough independent research and consult with professional investment advisors before making any investment decisions.
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