Smartphone market, hope after 3rd quarter figures

After several quarters of severe decline in the smartphone market, the results for the third quarter of 2023 suggest better days ahead for the sector. But nothing is certain yet...

Due to the global economic recession - among other things - the last few quarters have not been brilliant for the smartphone market around the world. However, growth is perhaps about to return if we are to believe the figures for the third quarter of 2023, communicated by the Canalys firm.

Fashion smartphone market, third quarter 2023 stable

Thus, the distribution for the entire months of July-August-September amounts to 293.4 million units, a drop of only 1% compared to the same period last year. An encouraging result which signals a brake on the sharp decline observed in previous months. Samsung remains the market leader with 57.2 million units sold and 20% market share, followed by Apple with 17% of the market, then Xiaomi (14%) and Oppo (9%).

A word to Sanyam Chaurasia, senior analyst at Canalys

“The growing demand for new offerings in emerging markets is propelling brands and channels forward as the holiday season approaches,” says Sanyam Chaurasia, principal analyst at Canalys. Lucas Zhong, research analyst at Canalys, adds that the global smartphone market could see slight growth in the first quarter of 2024.