Counterpoint: China's mobile phone market will exceed $600 billion in the first half of 2024, with a year-on-year sales growth of 8%.

According to a report by market research firm Counterpoint Research, China's mobile phone market will accelerate its high-end development in the first half of 2024, with sales in the market segment exceeding US$600 (approximately RMB 4,338) increasing by 8% year-on-year, and the overall market increasing by 4% year-on-year. At the same time, a report by market research firm GfK China shows that the average price of domestic mobile phones has risen to RMB 3,480 in the third quarter of 2023. After this year's price increase, the average price of domestic mobile phones is likely to reach the RMB 4,000 mark. As for the reasons for the price increase, some experts analyzed that part of the reason is the increase in raw material costs, supply chain costs, and continued increase in R&D investment, all of which have forced manufacturers to adjust prices to maintain profits.

However, according to the survey, 70% of users said they do not accept the price increase of mobile phones and believe that the cost of price increases should not be passed on to consumers.

Not long ago, Honor CEO Zhao Ming expressed his views on the trend of rising mobile phone prices. He said that Honor has always been very determined not to raise prices and only wants to do its best. He also clarified that there was no story about persuading executives not to raise prices overnight.

Zhao Ming said: "We have to bear the pressure. Consumers are under more pressure than us."

It is understood that the price of Honor Magic7 has only increased by 100 yuan compared with the previous generation with the added configuration. Honor Magic7 Pro has been further improved based on the standard version, but the starting price is exactly the same as the previous generation.

Zikuai Technology