Global smartphone market declines for 9th consecutive quarter, Samsung leads

  • IANS
  • Stock Market News
Global smartphone market declines for 9th consecutive quarter, Samsung leads
Credit: © Reuters.

New Delhi, Oct 17 (IANS) Global smartphone sell-through volumes fell 8 per cent (year-on-year) in the third quarter, the ninth consecutive quarter to record a decline, a report showed on Tuesday.The market is expected to decline for the full year of 2023, reaching its lowest level in the decade largely due to a shift in device replacement patterns, particularly in developed markets.

The smartphone volumes declined YoY largely due to slower than expected recovery in consumer demand, according to Counterpoint Research.

However, the market’s quarter-on-quarter (QoQ) growth (2 per cent), especially the positive performance in September despite one full week less of sales of the new iPhones, is likely a sign of positive news ahead, the report mentioned.

Samsung (KS: 005930 ) continued to lead the global market, capturing a fifth of the total sales in Q3.

The new generation of foldables received a mixed response, with the Flip 5 outselling its counterpart by nearly twice as much.

However, Samsung’s A-series models remained market leaders in mid-price bands.

Apple (NASDAQ: AAPL ) came in second with a 16 per cent market share despite the limited availability of iPhone 15 series, which has been received well so far, the report said.

Xiaomi, OPPO and vivo rounded off the top five, with the three recording YoY declines.

In Q3, all these brands worked towards strengthening their positions in key markets like China and India, while continuing to slow down expansionary efforts in overseas markets.

HONOR, Huawei and Transsion Group gained share and were among the only brands to record YoY growth in Q3, according to the report.

“Following a strong September, we expect the momentum to continue till the year-end, beginning with the full impact of the iPhone 15 series along with the arrival of the festive season in India, followed by the 11.11 sales event in China and ending with the Christmas and end-of-year promotions,” the report mentioned.

--IANS

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