The Q3 of the financial year 2023 saw an 8% decline against the financial year 2022.
However, in September, the sales during the quarter saw a growth.
Counterpoint predicts that the sales could go up and we could see a pause in year-over-year declines in Q4 2023.
Even though new smartphones keep dropping every month, the manufacturers have something to worry about. A recent survey revealed that global smartphone sales dropped by 8% when compared to the same time last year in Quarter 3(Q3) of 2023. The smartphone sales have been dropping for a while now. Read along to find out what’s happening in the smartphone market.
According to a research study conducted by Counterpoint’s Market Pulse service, smartphone sales have been dropping continuously for the past nine financial quarters. The Q3 of the financial year 2023 saw an 8% decline against the financial year 2022. This is major because of the slower consumer demand recovery that the market is facing.
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But it’s not all bad news as a ray of sunshine has been seen. In September especially, the sales during the quarter saw a growth. There was a 2% growth in sales in total over the previous quarter. This happened despite the fact that one week was reserved for iPhone sales.
How Samsung beat Apple in smartphone shipments
Speaking of iPhones, Apple might have something to worry about. If we look at the Q3 sales in total, Samsung has the largest share and topped the market with one-fifth of the sales in its name. It was the Samsung Flip 5 that got sold a lot, twice as the Samsung Galaxy Z Fold 5. This was the higher end and in the mid-range, the A-series took the lead. Apple on the other hand stood second in the race for market share as it accounts for 16% of the total. The iPhone 15 drop was well received but not so much to beat Samsung.
Also read: Hands-on video, pricing and first impressions of Samsung Galaxy Z Fold 5 and Flip 5 foldables
And the other three spots on the top five list were taken by Xiaomi, Oppo, and Vivo. These companies have focused more on making their presence stronger in India and China over overseas operations. This has led to them facing year-over-year declines. On the other hand, Honor, Huawei, and Transsion Group are seeing year-over-year growth in Q3 and are even gaining market share.
But what about the future? What’s going to happen?
Owing to the craze of the iPhone 15 series, the upcoming festive season in India, 11:11 sales in China, and year-end discounts, Counterpoint predicts that the sales could go up and we could see a pause in year-over-year declines in Q4 2023. However, it also mentioned how the market could see an overall decline for the full financial year 2023 and could even reach the lowest point in decades. The reason behind this is said to be changing consumer habits with respect to device replacement, particularly in developed nations.
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Mustafa Khan
Mustafa is new on the block and is a tech geek who is currently working with Digit as a News Writer. He tests the new gadgets that come on board and writes for the news desk. He has found his way with words and you can count on him when in need of tech advice. No judgement. He is based out of Delhi, he’s your person for good photos, good food recommendations, and to know about anything GenZ. View Full Profile
