Global Smartphone Shipment Registers 8 Percent Decline In Q3 2023 (Image: Pixabay)

Global smartphone shipments fell 8 percent in the third quarter (Q3) of 2023, said Counterpoint Research in its latest research. Thus, it registered the ninth consecutive quarter of decline. At the same time, the market also marked 2 percent quarter-on-quarter (QoQ) growth.

The report from Counterpoint’s Market Pulse service suggested that a slower than expected recovery in consumer demand is the main reason for the decline in smartphone shipments. However, the market’s QoQ growth indicates a positive outlook ahead. The report also reveals that Samsung is in the top position in the global market. The South Korean conglomerate captured a fifth of the total sales in the third quarter. Samsung”s new foldable devices, including the Galaxy Z Fold 5 and the Galaxy Z Flip 5, received mixed responses in the market. The A-series models of Samsung maintained their top position in mid-price bands.

Apple is holding the second position in the global market with 16% market share. This comes despite the limited availability of the recently introduced iPhone 15 lineup. Chinese smartphone makers Xiaomi, OPPO, and Vivo ranked third, fourth, and fifth, respectively. The research says that Xiaomi, OPPO, and Vivo worked towards enhancing their positions in major markets like India and China. In overseas markets, these brands continued to slow down their expansionary efforts.

Developed markets, like North America, Western Europe, and South Korea, registered huge declines in sales. On the other side, the Middle East and Africa (MEA) market was the only region with year-over-year growth in Q3. The report also mentions that the market is expected to decline for the full year of 2023 and will arrive at its lowest level in a decade. This decline is mainly due to a shift in device replacement patterns, especially in developed markets.