The Chinese Ministry of Industry and Information Technology (CMIIT) has released a report on the status of mobile operations and products throughout the country for the months of January to August this year. The report is full of surprises. Read until the end to find out what exactly the report has to say!
Here’s what the CMIIT’s data has to say!
According to data, mobile phone manufacturing decreased by 0.9% year over year from January to August to 935 million units, while smartphone production fell by 7.5% year over year to 679 million units, which is somewhat unexpected.
During the January to August period of this year, the country exported 92.68 million laptops, which is a 21.7% decrease from the same period last year. Additionally, there was a 10.9% decline in the export of mobile phones, with 478 million units shipped. Integrated circuit production also decreased by 1.4%, resulting in 221.4 billion units. Lastly, the sale of integrated circuits saw a 6.2% decrease, with a total of 175.6 billion units sold during the period compared to the same time last year.
Lately, after the COVID area, when the country reported a major downfall not only in terms of production and exports but economically as well, is now regaining its position slowly and steadily. The source (IT Home) further comments on the data that this is a sign that China is now stabilizing the market further where the production department continues to grow and the overall export has been narrowed down further.
According to data, China shipped 478 million mobile phones, down 10.9% from the previous year, 92.68 million laptops, down 21.7% from the previous year, and 175.6 billion integrated circuits, down 6.2% from the previous year.
From January to August, the electronic information manufacturing industry above the designated size experienced a 3.5% year-over-year decline in operating income, which was 0.3 percentage points narrower than the decline from January to July. Operating costs also decreased by 3% year-over-year to 8.06 trillion yuan.
According to CMIIT, the industry realized profits of CNY 1.06 trillion (~$145 billion), and the operational income profit margin increased by 0.4 percentage points to 3.9% from January to July. The total amount of realized profits was (~$48 billion) CNY 354.7 billion, which was a year-over-year decrease of 20.6%. However, this decline was 5.8 percentage points narrower than the decline from January to July.
The CMIIT’s report has revealed China’s production and export records. I would love to hear your opinion on this topic. Please feel free to share your thoughts in the comments section using your own words.