Global smartphone market shows signs of recovery in Q3 2023

The global smartphone market has witnessed a slight improvement in the third quarter of 2023, after a sharp decline in the previous quarters due to the COVID-19 pandemic and the chip shortage crisis. According to the latest report by Canalys, a leading market research firm, the smartphone shipments in Q3 2023 reached 328 million units, down by 9% year-on-year, but up by 11% quarter-on-quarter.

Samsung leads the market with strong growth

Samsung, the world’s largest smartphone vendor, maintained its top position in Q3 2023, with a market share of 23% and a shipment volume of 76.6 million units. This represents a growth of 28% quarter-on-quarter and 7% year-on-year, making Samsung the only vendor among the top five to achieve positive annual growth. Samsung’s strong performance was driven by its diversified portfolio, aggressive marketing, and effective supply chain management.

Global smartphone market shows signs of recovery in Q3 2023
Global smartphone market shows signs of recovery in Q3 2023

Apple regains second place with iPhone 13 launch

Apple reclaimed the second spot in the global smartphone market in Q3 2023, with a market share of 15% and a shipment volume of 50.4 million units. This is an increase of 7% quarter-on-quarter and a decrease of 1% year-on-year. Apple’s growth was boosted by the launch of the iPhone 13 series in late September, which received a positive response from consumers and generated high demand. Apple also benefited from its loyal customer base, premium brand image, and strong ecosystem.

Xiaomi slips to third place with supply constraints

Xiaomi, which had surpassed Apple in Q2 2023 to become the second-largest smartphone vendor, slipped to the third place in Q3 2023, with a market share of 14% and a shipment volume of 46.6 million units. This is a decline of 8% quarter-on-quarter and a growth of 24% year-on-year. Xiaomi’s growth was slowed down by the supply chain challenges and the competition from other Chinese vendors. Xiaomi’s strength lies in its affordable and innovative products, its online and offline channels, and its international expansion.

Oppo and Vivo rank fourth and fifth with stable performance

Oppo and Vivo, two other Chinese smartphone vendors, ranked fourth and fifth in the global smartphone market in Q3 2023, with similar market shares of 10% and shipment volumes of around 33 million units each. Both vendors saw a slight decrease of 2% quarter-on-quarter and a moderate increase of 6% year-on-year. Oppo and Vivo have been focusing on enhancing their product quality, design, and features, as well as expanding their presence in emerging markets.

Challenges and opportunities ahead for the smartphone industry

The global smartphone market is facing many challenges in the near future, such as the uncertainty of the COVID-19 situation, the ongoing chip shortage crisis, the rising production costs, and the intensifying competition. However, there are also some opportunities for growth, such as the increasing adoption of 5G technology, the innovation of new form factors and features, and the untapped potential of some regions and segments.

Canalys Analyst Amber Liu commented on the outlook of the smartphone market: “The smartphone market is highly reactive to consumer demand and vendors are adjusting quickly to the harsh business conditions. For most vendors, the priority is to reduce the risk of inventory building up given deteriorating demand. Looking ahead to Q4 2023, vendors will focus on optimizing their supply chains, reorganizing their pricing strategies, and offering new carrier deals to attract customers during the holiday season.”

Leave a Reply

Your email address will not be published. Required fields are marked *