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Global Smartphone Sales Rebound in October

2023.11.24

 

Key Takeaways

  • Smartphone sales grew 5% year-on-year in October, led by emerging markets.
  • Huawei and Apple’s new releases contributed significantly to the sales surge.

Emergence from a Sales Slump

October marked a pivotal moment for the global smartphone market, witnessing a 5% year-on-year increase in sales. This upswing ended a 27-month streak of year-on-year declines, indicating a significant recovery in the industry.

 

The growth surge was predominantly driven by the emerging markets, with notable recovery in the Middle East and Africa, alongside Huawei’s resurgence in China and festive season boosts in India. In contrast, developed markets with higher smartphone saturation experienced a slower recovery pace.

Huawei’s Comeback and Apple’s Impact

Huawei’s release of the Mate 60 Pro in China, featuring advanced chip technology, propelled the company to the forefront of smartphone growth. Additionally, the late September launch of Apple’s iPhone 15 series significantly influenced October sales, contributing to the highest monthly sales since January 2022.

Challenges and Resilience

The global smartphone market has navigated through challenges like component shortages, inventory buildup, and extended replacement cycles. These difficulties, compounded by uncertain macroeconomic factors, led to a prolonged sales decline. However, October’s performance indicates a positive shift.

Canalys Insights and Market Leaders

Tech research firm Canalys observed a deceleration in the decline of global smartphone sales, with only a 1% drop in the third quarter compared to a 10% decline in the previous quarter. This slowing decline reflects rising demand in emerging markets.

 

Samsung maintained its leadership in the global smartphone market in the third quarter with a 20% share. Apple followed with a 16% market share, while Chinese brands Xiaomi, Oppo, and Vivo held 12%, 10%, and 8% shares, respectively.

A Positive Outlook

Counterpoint Research projects further growth for the global smartphone market in the fourth quarter. The firm anticipates continued year-on-year growth in Q4 2023, setting the stage for a gradual market recovery in subsequent quarters.

 

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