Global smartphone market declines for ninth consecutive quarter: Counterpoint

Worldwide smartphone market

• As per the Counterpoint Research report, Samsung maintained its position in the global markets and accounted for a significant 20 percent share in Q3.
• The research note claims that Samsung’s latest foldables have received a mixed response, “with the Flip 5 outselling its counterpart by nearly twice as much.”
• Samsung’s A-series models remained market leaders in the mid-range price segment, as per Counterpoint.
• Apple secured the second position with a 16 percent market share. This is despite the limited availability of the iPhone 15 series.
• Xiaomi, OPPO and Vivo have secured the remaining positions in the top-five list. All these brands have experienced a YoY decline.

Counterpoint research notes that in Q3, the companies have mainly focussed on consolidating their presence in markets like India and China. This is while slowing down the expansion efforts in other global markets. Honor, Huawei, and Transsion Holdings were among the brands in exception, and have managed to gain market share and record YoY growth in Q3.

Huawei’s growth could be attributed to the launch of the Mate 60 series in China, as per Counterpoint. On the other hand, Honor’s growth could be because of the strong overseas sales. Transsion Holdings expanded its presence and benefited from the recovery in the Middle East and Africa (MEA) market. This is the only region that stands out with YoY growth in Q3, courtesy of improvements in macroeconomic indicators.

Markets, including North America, Western Europe, and South Korea have recorded a substantial decline in sales. However, the report notes that these markets could see a bounce back in the fourth quarter, mainly due to the delayed impact of the iPhone launch.

“Following a strong September, we expect the momentum to continue till the year-end, beginning with the full impact of the iPhone 15 series along with the arrival of the festive season in India, followed by the 11.11 sales event in China and ending with the Christmas and end-of-year promotions across regions. In Q4 2023, we expect the market to halt its series of YoY declines,” Counterpoint added.

Counterpoint Research also projects that the overall market will experience a decline for the entire year of 2023, reaching the lowest level in the past decade. This shift could be attributed to changing device replacement patterns, especially in developed markets.