Counterpoint Research reported that in October, the global smartphone market went up 5% as compared to the same period last year, ending a streak of 27 months of decline. This improvement was mainly caused by the resurgence of emerging markets, the return of Huawei in China, and the launch of the iPhone 15 in September. Additionally, the research firm declared that with the successful growth in October, there is the expectation that the market will also expand year-on-year in 2023 Q4, setting the stage for a progressive recovery in the following quarters.
Worldwide smartphone sales saw a rise during October, following 27 consecutive months of decline on a year-over-year basis, kickstarted by a revival in emerging markets, according to information from Counterpoint Research. Reported retail sales volumes increased by 5% compared to the same month the prior year.The research agency commented that the surge was primarily consequent to Huawei's come-back in China, the commencement of the festive period in India, and continuous recovery in the Middle East and Africa. Nonetheless, the more mature markets with higher smartphone market absorption, experienced a slower recovery.Huawei recorded the most remarkable growth amongst smartphone suppliers in the third quarter, followed by the release of its Mate 60 Pro phone in September, and the increasing enthusiasm of the public due to its advanced chip.October also had the highest smartphone sales figure since January 2022. The later release of Apple's iPhone 15 series in late September also augmented smartphone sales as the full effect was seen in October, unlike last year's launch which had been delayed by a week.The prolonged around-the-world smartphone sales decrease has been heightened by many factors such as component lack, inventory accumulation, and longer replacement cycles, as well as the current macroeconomic atmosphere. As a result, global smartphone sales have dropped for more than 2 years on a year-over-year basis.
Canalys, a tech research firm, reported that smartphone sales recently have been steadying, with a 1% drop in third-quarter shipments compared to the earlier 10% decline. Sanyam Chaurasia, a senior analyst at Canalys, attributed the improved sales to increased demand for revamped models in emerging markets as the holidays near. Data from Counterpoint Research showed that Samsung held the highest global smartphone market share for the third quarter at 20%, with Apple coming in second at 16%. Chinese companies Xiaomi, Oppo and Vivo rounded out the top five with 12%, 10% and 8% shares respectively.
According to Counterpoint Research, the global smartphone market is anticipated to grow in the fourth quarter of this year. The firm declared that following a good start to October, the market should experience a year-on-year growth in 2023 Q4, suggesting an eventual revival in the near future.
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