The third quarter of the year between July to September ended recently. As per Counterpoint Research's recent report, apple and samsung dominated the global smartphone sales occupying 10 positions in Q2, 2023. Now, the market research firm is back with the latest data on the smartphone market's performance in Q3 this year. As expected, the smartphone market globally witnessed a slowdown. The shipments declined 8 percent year-on-year during the same period last year. However, it was more compared to a quarter-on-quarter basis. Read on to know all the details below.
Global smartphone market registers decline in Q3
The global smartphone sales registered a decline for the ninth consecutive quarter and it fell by 8 percent in Q3, 2023 YoY. However, it grew 2 percent compared to Q2, 2023 hinting at a positive outlook ahead. Counterpoint attributes the decline in shipments to a slowdown in consumer demand recovery. On the bright side, the research firm expects the momentum from the September quarter to be carried through the year-end due to the iPhone 15 series, the festive season in India, 11.11 sales in China, and the holiday season.
The research firm reported that MEA was the only region to clock a year-on-year growth in Q3 whereas developed markets experienced significant declines which is expected to see a rebound in sales in Q4.
As per Counterpoint, Samsung led the global smartphone market in Q3 with a 20 percent market share. The company's A-series devices dominated the sales while the fifth-generation foldables received a mixed response with the Flip 5 outselling the Fold 5. Cupertino-based Apple bagged the second spot with a 16 percent market share despite the limited availability of the iPhone 15 series. xiaomi came in third place whereas vivo and oppo were ranked fourth and fifth respectively. The three Chinese brands strengthened their positions in the home country along with India while also cutting back on overseas expansion.
Meanwhile, 34 percent of the market share was from other brands including Honor, huawei, and Transsion Group. These were also the only ones to clock a YoY growth while others registered double-digit degrowth in Q3.