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October Marks a Rebound in Global Smartphone Sales Following Over Two Years of Decline

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October Marks a Rebound in Global Smartphone Sales Following Over Two Years of Decline

After experiencing a continuous decline for 27 consecutive months on a year-on-year basis, global smartphone sales saw a notable uptick in October, as revealed by data from Counterpoint Research. This resurgence was primarily driven by a recovery in emerging markets. The report indicates a 5% year-on-year growth in sell-through transactions, reflecting retail sales volumes for the month of October.

“The surge in growth is primarily attributed to emerging markets, marked by a sustained recovery in the Middle East and Africa, Huawei’s resurgence in China, and the commencement of the festive season in India,” noted the research firm. In contrast, developed markets with higher smartphone saturation have witnessed a more gradual recovery, according to the report.

In the third quarter, Huawei experienced the most rapid growth among smartphone manufacturers in China, propelled by the launch of its Mate 60 Pro smartphone in September. The device garnered significant consumer interest, thanks to its advanced chip technology. Additionally, the report highlighted that October marked the highest monthly smartphone sales since January 2022.

The introduction of Apple’s iPhone 15 series in late September played a crucial role in boosting smartphone sales. Counterpoint Research noted, “Compared to the previous year, the launch was delayed by a week, resulting in the full impact of the new iPhone sales being realized in October.” The global smartphone market has faced challenges stemming from component shortages, inventory accumulation, and extended replacement cycles.

“These challenges have been exacerbated by an uncertain macroeconomic environment, leading to a continuous year-on-year decline in global smartphone sales for over two years,” noted the research firm. Canalys, a technology research firm, reported last month that the deceleration in global smartphone sales was easing, with third-quarter shipments experiencing only a 1% drop compared to a 10% decline in the previous quarter.

“As the holiday season approaches, the increasing demand for new products in emerging markets is driving the momentum for brands and channels,” stated Sanyam Chaurasia, a senior analyst at Canalys. According to data from Counterpoint Research, Samsung from South Korea maintained its position at the forefront of the global smartphone market in the third quarter, capturing a 20% share of total smartphone sales. Apple secured the second spot with a 16% market share, followed by Chinese brands Xiaomi (12%), Oppo (10%), and Vivo (8%).

Anticipating continued expansion, Counterpoint Research foresees further growth in the global smartphone market during the fourth quarter. The research firm expressed optimism, stating, “Following robust growth in October, we anticipate year-on-year market growth in 2023 Q4 as well, paving the way for a gradual recovery in the subsequent quarters.”

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