Caixin
Jan 18, 2019 05:57 PM
BUSINESS & TECH

Five Things to Know About China’s Smartphone Market Downturn

Workers make Gionee cellphone motherboards in Dongguan, Guangdong province, in December 2015. Photo: VCG
Workers make Gionee cellphone motherboards in Dongguan, Guangdong province, in December 2015. Photo: VCG

“In 2019, we will face the most challenging time yet,” proclaimed Lei Jun, founder of Xiaomi Corp., at the company’s annual party on Jan. 11. “It’s a fact that global smartphone shipments have become lackluster.”

Xiaomi is the world’s fourth-largest smartphone-maker, with a global footprint that includes Indonesia, India, the U.K., Sri Lanka and Russia, and trailing behind only Samsung Electronics Co. Ltd., Apple Inc., and hometown rival Huawei Technologies Co. Ltd. in the global rankings.

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