Smartphone prices to rise by 8.3% this year
OnePlus launches its OnePlus 8 models with a starting price of 3,999 yuan.
Average smartphone prices are expected to increase by over 8 percent in the Chinese market, researcher IDC said on Monday, due to more medium and high-end models and 5G replacements.
New models from Apple and OnePlus are expected to boost sales and lift average prices, analysts said.
In 2019, the average price in the Chinese smartphone market was US$322. That will increase by 8.3 percent this year, according to Wang Xi, an IDC analyst.
Huawei, Oppo, Vivo and Apple are top players in the medium and high-end markets in China, while young brands such as OnePlus are expanding rapidly in the domestic market, IDC said.
New OnePlus 8 models with improved screens and 5G features have been launched at a starting price of 3,999 yuan (US$571). OnePlus is now one of the top three brands in China's above-3,500-yuan market, said Liu Zuohu, the company’s CEO.
Last week, Apple announced the launch of a new iPhone SE model with a starting price of 3,299 yuan, the most affordable iPhone since 2018. Sales will commence on Friday.
In a fiercely competitive market, the new iPhone is a “shield” to help Apple protect existing users in the iOS camp, according to Wang.
