Did The Smartphone Bubble In China Just Pop? [zero hedge]
Apple Inc. (AAPL)
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Source: zero hedge
The eight-year-long smartphone bubble in China has abruptly come to an end, in yet another warning sign that the global synchronized growth narrative is merely an illusion.The Singapore-based research firm Canalys has confirmed that China’s smartphone market suffered its first ever annual decline, with shipments down 4 percent from 2016 to 459 million phones in 2017. Canalys blames the weakness on a terrible y/y performance in the industry during the Q4 2017 period, with shipments crashing by over 14 percent to around 113 million phones.From 2010 through 2012, the Chinese smartphone industry had triple-digit growth between 104 percent to 150 percent per annum. After 2013 to present day, growth decelerated to an outright contraction.Despite the mounting evidence of buyer saturation in China, Huawei increased shipments by 9 percent during the overall market contraction, shipping more than 24 million smartphones in 4Q 2017 and reaffirmed itself as the number one Chinese smartphone seller
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