Counterpoint data shows global smartphone retail sales rose 5% in October from a year earlier, driven by emerging markets such as the Middle East and Africa, Huawei’s comeback and a shopping festival in India. More mature markets with higher levels of saturation saw a slower recovery.
Huawei was the fastest-growing smartphone maker in China in the third quarter of 2023 after launching the Mate 60 Pro in September, attracting domestic and international attention thanks to its advanced chip.
According to Counterpoint, October was the month with the highest monthly smartphone sales since January 2022. Apple's iPhone 15 launched at the end of September also helped stimulate smartphone sales.
Global smartphone sales are being hit by component shortages, inventory build-ups and longer upgrade cycles.
These factors combined with an uncertain macroeconomic environment resulted in declining sales for more than two years.
Last month, research firm Canalys said the decline in the smartphone market had slowed, with shipments falling just 1% in the third quarter of 2023 compared with a 10% decline in the previous quarter.
Rising demand in emerging markets is driving brands and channels to grow as the holiday season approaches, senior analyst Sanyam Chaurasia pointed out.
Samsung continued to lead the global smartphone market with a 20% market share in the third quarter, according to Counterpoint.
Apple ranked second with 16% market share, followed by Xiaomi (12%), Oppo (10%) and Vivo (8%). Counterpoint predicts the market will grow further in the fourth quarter.
(According to CNBC)
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