Global smartphone sell-through volumes experienced an 8% year-on-year decline in the third quarter of 2023 (Q3 2023), according to the latest research from Counterpoint’s Market Pulse service. Sell-through volumes represent the percentage of products sold by retailers compared to the quantity supplied by wholesalers.
This marks the ninth consecutive quarter of declining sales, although there was a 2% quarter-on-quarter (QoQ) growth in sales. Nevertheless, it’s anticipated that the smartphone market will continue to decline throughout 2023, reaching its lowest point in the past decade. This decline can be attributed to shifting device replacement patterns, particularly in developed markets.
The report notes, “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.”
Regarding market leadership, Samsung maintained its position as the global market leader, representing one-fifth of total sales in Q3. Notably, its foldable devices received mixed responses, with the Flip 5 outselling its counterpart by nearly twice as much. The second position was secured by the American tech giant, Apple, with a 16% market share, despite the limited availability of the iPhone 15 series. The third, fourth, and fifth positions were claimed by Chinese mobile manufacturers Xiaomi, Oppo, and Vivo. According to the research, these brands focused on strengthening their presence in key markets like China and India while slowing down expansion efforts in international markets.
Other mobile brands, including Honor, Huawei, and Transsion Group, gained market share and were among the few brands to record year-on-year growth in Q3. Huawei’s growth was driven by the launch of the Mate 60 series in China, while HONOR’s growth was attributed to strong performance in overseas markets.
Transsion brands continued their expansion and benefited from the recovery in the Middle East and Africa (MEA) market. Among the regions, MEA was the sole area to record year-on-year growth in Q3, mainly due to improvements in macroeconomic indicators. Conversely, most developed markets like North America, Western Europe, and South Korea reported significant declines.