Q3 Sees Initial Global Smartphone Market Recovery, Reports Canalys،
According to a recent report from Canalys, the global smartphone market is showing promising signs of recovery during the third quarter of 2023. According to the report, smartphone shipments increased by 2% year-over-year, totaling 296 million units. This is the first annual growth since the fourth quarter of 2021.
The main driver of this revitalization is the strong demand observed in the Chinese market, where shipments increased by 11% year-on-year, reaching 82 million units. This notable increase in the Chinese smartphone market is particularly significant because it represents the first growth in more than a year.
Several factors have contributed to China’s recovery. Among these are the introduction of new flagship models from well-known Chinese brands such as Huawei, Xiaomi and Oppo. The Chinese government has also played a role in providing subsidies to encourage consumers to buy new smartphones. Outside of China, however, the global smartphone market presents a more challenging landscape. North American shipments fell 6% year-over-year, while European shipments fell 10% year-over-year.
Despite these regional setbacks, positive developments have occurred in other parts of the world. Smartphone shipments increased 1% year-on-year in Latin America, while the Middle East and Africa grew 4% year-on-year.
As of Q3 2023, the top five smartphone vendors were:
- Samsung has a 23% market share.
- Apple has a market share of 18%.
- Xiaomi (12% of the market)
- Oppo (11% of the market)
- Vivo (10% of the market)
Notably, despite a 1% year-over-year drop in shipments, Samsung maintains its market leadership position. Shipments at Apple increased 6% year-on-year, driven by strong demand for the iPhone 13 series. Shipments increased year-on-year for Chinese smartphone suppliers such as Xiaomi, Oppo and Vivo. Xiaomi grew by 11%, Oppo by 15% and Vivo by an impressive 24%.
The Canalys report predicts that the global smartphone market will continue to recover in 2024, with a positive outlook. Shipments are expected to increase 4% year-over-year to 309 million units. Several factors, including the launch of new flagship models by major smartphone vendors, sustained growth in the Chinese market, and expanding markets in emerging regions, are expected to drive this upcoming recovery.
The Canalys report is good news for the global smartphone market. After several quarters of decline, the resurgence of the market in the third quarter of 2023 demonstrates its resilience and adaptability. As it continues to recover, the smartphone industry and consumers can look forward to a bright future.
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