Caixin News, April 30th (Reporter: Tang Zhixiao) - It has been nearly half a month since the official release of the Huawei Pura 70 series products.
According to a first-hand report by Caixin News, the Pura 70 series did not experience the prolonged multi-platform stock shortages seen with Huawei's Mate 60 series and Mate X5 series. Meanwhile, many sellers on second-hand platforms have opted to sell at discounted prices.
According to the latest report from IDC, Huawei's market share in the domestic market in the first quarter of 2024 was 17.1%, tied for first place with Honor. Analysts predict that the shipment volume of the Huawei Pura 70 series may increase by 230% year-on-year in 2024.
The Pura 70 series is well stocked, with second-hand sellers offering discounts
On April 15th, Huawei announced the upgrade of the P series brand to Pura. The upgraded Huawei Pura 70 series became the first product of the new series; on April 18th, Huawei officially announced the start of the Pura 70 series pioneer program for sale, similar to the Mate 60 series, without holding a launch event.
On the day of the Pura 70 series release, long queues formed at many stores, and there were shortages of the Pura 70 series phones on the first day. Some consumers who managed to get the first batch of phones resold them at prices increased by 200-500 yuan, listing them on second-hand platforms.
However, this situation did not last long. In less than three days, the premium pricing of the Pura 70 series on second-hand platforms disappeared, and there were even cases of some sellers lowering their prices for sale.
According to a reporter from Cailian Press, since the launch of the Pura 70 series, Huawei has been releasing a batch of phones for sale on its official online store every day. In addition to the official online channel, the Pura 70 series products are also available on e-commerce platforms such as JD.com and Pinduoduo. On Pinduoduo, all four versions are in stock, but the color options and memory versions are not complete.
Recently, a reporter from Cailian Press visited Huawei's offline authorized stores in Shenzhen. Sales staff in the stores told the reporter, "The allocation of phones with different colors and versions varies at each store. Generally speaking, the company-owned stores have the most complete stock, but it cannot be guaranteed that a specific version of the product will be available."
He further added that the stores are restocked every few days, and it is not difficult to purchase the phones. If you have a version in mind that you want to buy, you can make a reservation without a deposit.
At the same time, the reporter from Cailian Press also learned that the previous practice of bundling other products and extending warranty services with the Mate 60 series and Mate X5 series is no longer happening.
Some consumers have told Caifinance reporters that they originally planned to purchase the Pura 70 Ultra at a Huawei offline store, but couldn't find the desired color scheme in the store. As a result, they chose to buy it on a second-hand platform. "Nowadays, phones on the platform are basically not marked up."
Caifinance reporters have noticed that, for example, the top-of-the-line Pura 70 Ultra 1TB model, on second-hand trading platforms, the price for unboxed and activated versions has dropped to around 10,000 yuan, nearly a thousand yuan lower than the official price of 10,999 yuan.
The online seller told Caixin reporters: "Consumers who purchase offline can only buy one unit and must unbox and activate it before taking it away, possibly to prevent scalping. Initially hoping to sell at a premium, but after a few days with no takers, they had to cut prices to sell."
Huawei Regains Top Spot in Domestic Market Share
According to IDC's latest report, in the first quarter of 2024, the shipment volume of China's smartphone market was approximately 69.26 million units, a year-on-year increase of 6.5%. In that quarter, both Honor and Huawei held a market share of 17.1%, jointly ranking first. The Huawei Mate 60 series continues to be in high demand, with the nova 12 series accounting for one-third of Huawei's total shipments for the quarter.
Regarding Huawei's strong rise in market share, IDC believes that supply issues remain a key factor limiting further growth in Huawei's shipments. With the comprehensive upgrade of the Huawei P series to Huawei Pura, it is expected to help Huawei's shipment volume continue to increase rapidly.
Minsheng Securities pointed out that the Pura 70 series is positioned as a high-end camera, featuring a self-developed Panggu model embedded internally. It is expected to have AI photography as a core highlight, leading to significant upgrades in camera components, including lenses, rotating coating filters, micro-prisms, motors, etc. Additionally, Huawei's localization process in CIS image sensors, RF chips, satellite communication functions, and analog chips will accelerate, further driving the growth of related industry chain enterprises.
Official information shows that the Pura 70 series released this time includes four models: Huawei Pura 70 Ultra, Huawei Pura 70 Pro+, Huawei Pura 70 Pro, and Huawei Pura 70 Standard Edition. Among them, the Pura 70 Ultra is most advanced in terms of the camera, with a 50-megapixel main rear camera, a 1-inch sensor, a retractable lens, sensor stabilization, and an F1.6-F4.0 variable aperture.
The Pura 70 Ultra supports Tiantong satellite communication and Beidou messaging, with Beidou messaging supporting image transmission. The Pro+ supports Tiantong satellite communication, the Pro supports Beidou satellite messaging, while the Standard Edition lacks satellite communication functionality.
According to Tianfeng International Securities analyst Ming-Chi Kuo's forecast, the shipment volume of the Huawei Pura 70 series in 2024 may increase by 230% year-on-year, reaching 13 to 15 million units. Even with some slowdown in demand, shipments are still expected to increase by 150% year-on-year, reaching 10 to 12 million units.
