Last week, IDC reported a decline in global smartphone shipments in the second quarter of this year. Now as per the latest research from Counterpoint’s Market Pulse service, the smartphone market also declined globally in Q2, 2023 i.e the period from April to June. It also marked the eighth consecutive quarter of year-on-year decline. The shipments dipped by 8 percent YoY and 5 percent QoQ basis during the second quarter. Read on to know more below.
Global smartphone shipments fall in Q2, 2023
As per the Counterpoint data, all markets experienced a decline in smartphone sales. However, the most significant drops were in developed countries like the US, Western Europe, and Japan with double-digit declines. On the contrary, China, India, the Middle East, and Africa recorded a smaller decline in shipments. The reason for the contraction in smartphone shipments is attributed to longer replacement cycles, innovation convergence, and a growing demand for refurbished devices.
As per the data from Counterpoint, all OEMs recorded negative year-on-year growth. Vivo declined 17 percent followed by Xiaomi and Samsung with 12 percent. Apple and OPPO had the lowest decline in terms of growth with 2 and 3 percent respectively.
In the second quarter of 2023, Samsung led the market with 22 percent share followed by Apple with 17 percent share. Xiaomi was third in the list with a 12 percent market share whereas OPPO and Vivo bagged the fourth and fifth spots. The report adds that Samsung benefited from the strong performance of Galaxy A-series globally whereas Xiaomi sought growth in other markets beyond China and India.
Although the global market declined for the eighth straight quarter, there was a silver lining. The premium segment (wholesale price above $600) continued to grow due to consumers seeking superior experience and accessible financing options. Nearly 20 percent of smartphones falling in this category were sold. Apple capitalized on this trend and recorded 50 percent YoY growth in India.
Counterpoint Research expects a market recovery in the upcoming quarters due to healthy inventory levels, newer models, and consumer upgrades.
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