GUANGZHOU -- Smartphone shipments in the Chinese market sank 11.6% last year to 461 million units, the China Academy of Information and Communications Technology said, as the market becomes saturated and new products fail to attract consumers.
China's smartphone market has grown rapidly since 2010 to become the world's largest, accounting for about 30% of the global market. This is the first time that shipments have fallen by double digits. The only other time shipments shrank was during China's economic slowdown in 2014, when an 8% drop was recorded. The current slide, however, occurred amid a brisk economy.