Electronics boom in China: Over 900 million phones rolled out in first eight months of 2023

In the first quarter of 2023, China faced significant declines in semiconductor and smartphone production, impacting local brands like Oppo, Vivo, and Xiaomi. Challenges included U.S. export controls on semiconductor equipment and competition from factories in Vietnam and India. However, data released by the Ministry of Industry and Information Technology (MIIT) reveals a notable recovery in the electronic manufacturing sector from January to August. Key findings from the report include:

Electronics boom in China: Over 900 million phones rolled out in first eight months of 2023

Steady Improvement in Production: Electronic manufacturing enterprises contributed to a 0.9% year-on-year increase in value added, showing improvement compared to the first seven months.

August’s Strong Performance: August witnessed a remarkable 5.8% year-on-year increase in value added by the electronic information manufacturing industry

Mobile Phone Production: Despite a slight decline of 0.9%, mobile phone production reached an impressive 935 million units, with smartphones contributing 679 million units but experiencing a 7.5% decline.

Decline in Microcomputer Devices and Integrated Circuits: The production of microcomputer devices fell by 21.7%, and integrated circuits saw a 1.4% decline

Mixed Export Picture: The electronic information manufacturing sector faced an 8% decline in export delivery value, though it improved slightly compared to the earlier part of the year. Exports of laptops, mobile phones, and integrated circuits declined by 21.7%, 10.9%, and 6.2%, respectively.

Financial Performance: The industry generated an operating revenue of 9.21 trillion yuan ($1.2 trillion), with a 3.5% year-on-year drop, which showed signs of improvement. Costs decreased by 3%, totaling 8.06 trillion yuan ($1.12 trillion), and profits stood at 354.7 billion yuan ($49.6 billion), reflecting a substantial decrease of 20.6% but improving over the previous months.

Despite challenges, China's electronic manufacturing sector is displaying resilience and a positive trajectory. While certain areas, such as smartphone production and exports, experienced declines, the overall industry has shown signs of recovery and growth. August particularly stood out as a strong month. The sector's adaptability and potential for further improvement indicate a promising future for China's electronic manufacturing industry.

Samsung Galaxy A15 4G visits Geekbench with cool specsMobile