NEW DELHI: Global smartphone sell-through volumes fell 8% year-on-year in the third quarter (Q3) of 2023, according to the latest research from Counterpoint’s Market Pulse service. Sell-through refers to percentage of product sold by retailers to the quantity supplied by wholesalers.
This is the ninth consecutive quarter to record a decline, though the sales grew 2% QoQ (quarter-on-quarter). However, the market is expected to decline for the full year of 2023, reaching its lowest level in the decade, largely due to a shift in device replacement patterns, particularly in developed markets.
“Volumes declined year-on-year (YoY), largely due to slower-than-expected recovery in consumer demand. But the market’s QoQ growth, especially the positive performance in September despite one full week less of sales of the new iPhones, is likely a sign of positive news ahead,” reads the report.
In terms of companies, Samsung continued to lead the global market, capturing a fifth of the total sales in Q3. Its foldable received a mixed response, with the Flip 5 outselling its counterpart by nearly twice as much. The second spot was grabbed by American tech giant Apple with a 16% market share despite the limited availability of iPhone 15 series.
The third, fourth and fifth position were grabbed by Chinese mobile makers Xiaomi, Oppo and Vivo. According to the research, all these brands worked towards strengthening their positions in key markets like China and India, while continuing to slow down expansionary efforts in overseas markets.
Other mobile brands Honor, Huawei and Transsion Group gained share and were among the only brands to record YoY growth in Q3. Huawei grew driven by the launch of the Mate 60 series in China, while HONOR’s growth was led by strong overseas performance.
Transsion brands continued to expand while also benefiting from the recovery in the Middle East and Africa (MEA) market. In terms of countries, MEA was the only region to record YoY growth in Q3, owing to improvements in macroeconomic indicators. Most developed markets like North America, Western Europe and South Korea, recorded steep declines.
