Published on October 18, 2023, 8:08 pm
Image source: Fox News
The global smartphone market has reached its lowest levels in a decade, with a decline in iPhone volume. However, Apple fared better than other major vendors in the industry. Counterpoint Research’s report for Q3 2023 reveals that while global smartphone sell-through declined 8% year-on-year, it grew 2% in successive quarters. This marks the ninth consecutive quarter of year-on-year decline, attributed to a slower than expected recovery in consumer demand.
Despite this decline, analysts are optimistic about the quarter-to-quarter growth and highlight Apple’s performance in September, considering it was achieved with one week less of sales of the new iPhones. Apple holds a 16% share of the smartphone market for Q3 2023, slightly down from 17% in Q3 2022. Counterpoint recognizes the limited availability of the iPhone 15 collection but notes positive reception.
Samsung leads the market with a 20% share followed by Xiaomi, Oppo, and Vivo at 12%, 10%, and 8% respectively. In terms of shipment changes, Apple experienced a 9% reduction in the quarter compared to Samsung’s 13%, Xiaomi’s 15%, Oppo’s 10%, Vivo’s14%, and a steep drop of26% for other vendors.
Counterpoint expects momentum to continue until the end of the year starting with the full impact of the iPhone 15 series. They anticipate an improvement in sales during festive season sales in India, China’s11.11 event, western holiday sales, and end-of-year promotions worldwide which may halt the series of year-on-year declines.
However, despite this optimism for Q4, Counterpoint still projects an overall decline in the market for the full year of2023—the lowest level seen in a decade due to changing device replacement patterns particularly impacting developed markets.
Original article posted by Fox News