After experiencing a decline for 27 consecutive months on a year-on-year basis, global smartphone sales rebounded in October, marking a notable 5% growth in sell-through transactions, as reported by Counterpoint Research.
This positive trend was primarily fueled by a resurgence in emerging markets, particularly in the Middle East and Africa, the comeback of Huawei in China, and the onset of the festive season in India.
Developed markets, characterized by higher smartphone saturation, exhibited a slower recovery.
Huawei achieved the swiftest growth among smartphone manufacturers in China during the third quarter, boosted by the release of its Mate 60 Pro smartphone in September, which garnered significant consumer interest due to its advanced chip.
The month of October witnessed the highest monthly smartphone sales since January 2022.
The launch of Apple’s iPhone 15 series in late September played a role in strengthening global smartphone sales.
The delayed release by a week compared to the previous year meant that the full impact of the new iPhone sales was felt in October, according to Counterpoint Research.
The global smartphone market has been grappling with challenges such as component shortages, inventory build-up, and extended replacement cycles, leading to a continuous decline in sales over the past two years.
However, recent data indicates a slowdown in this decline, with third-quarter shipments falling only 1%, compared to a 10% decline in the previous quarter, according to Canalys.
Samsung maintained its position as the leader in the global smartphone market during the third quarter, commanding a 20% share of total smartphone sales.
Apple followed closely with a 16% market share, while Chinese brands Xiaomi, Oppo, and Vivo secured 12%, 10%, and 8% market shares, respectively.
Counterpoint Research anticipates further growth in the global smartphone market in the fourth quarter, building on the momentum from October.
The research firm projects year-on-year growth in the market for the fourth quarter of 2023, signalling a gradual recovery in the subsequent quarters.