- The global smartphone market grew 5% year-on-year in October after contracting for 27 months, according to Counterpoint Research.
- The growth was led by a rebound in emerging markets, Huawei’s comeback in China and Apple’s iPhone 15 launch in September, among others.
- “Following strong growth in October, we expect the market to continue growing year-on-year in the fourth quarter of 2023, putting the market on the path to gradual recovery in the coming quarters,” the research firm said.
Apple CEO Tim Cook holds up a new iPhone 15 Pro during an Apple event on September 12, 2023 in Cupertino, California.
Justin Sullivan | Getty Images
Global smartphone sales rose in October after 27 straight months of year-on-year declines, driven by a recovery in emerging markets, data from Counterpoint Research showed.
According to the report, sell-through transactions, or retail sales volumes, increased 5% year-over-year in October.
“Growth was led by emerging markets with a continued recovery in the Middle East and Africa, Huawei’s comeback in China and the start of the festive season in India,” the research firm said. Developed markets with relatively higher smartphone saturation have seen a slower recovery, it said.
Huawei posted the fastest growth among smartphone makers in China in the third quarter after the company launched its Mate 60 Pro smartphone in September, which attracted strong consumer interest due to its advanced chip.
October also saw the highest monthly smartphone sales since January 2022, the report said.
Apple’s launch of the iPhone 15 series in late September also contributed to an increase in smartphone sales. “Compared to last year, the launch was delayed by a week, meaning the full effect of new iPhone sales was felt in October,” said Counterpoint Research.
Global smartphone sales were hit by component shortages, inventory build-ups and longer replacement cycles.
“These issues have been exacerbated by an uncertain macroeconomic environment and, as a result, global smartphone sales have declined year-on-year every month for more than two years,” the research firm said.
Technology research firm Canalys said last month that the decline in global smartphone sales was slowing as shipments fell just 1% in the third quarter, compared with a 10% decline in the previous quarter.
“Increasing demand for new offerings in emerging markets is driving brands and channels as the holiday season approaches,” said Sanyam Chaurasia, senior analyst at Canalys.
According to data from Counterpoint Research, South Korea’s Samsung continued to lead the global smartphone market in the third quarter, accounting for 20% of total smartphone sales. Apple took second place with a market share of 16%, followed by Chinese brands Xiaomi (12%), Oppo (10%) and Vivo (8%).
Counterpoint Research expects the global smartphone market to continue growing in the fourth quarter.
“Following strong growth in October, we expect the market to continue growing year-on-year in the fourth quarter of 2023, putting the market on the path to gradual recovery in the coming quarters,” the research firm said.