The global smartphone industry will bottom out in Q4 2023! Apple ranks first

The latest research conducted by

TechInsights points out that in Q4 2023, the global smartphone market will rebound, with shipments increasing 7.1% year-on-year to 317 million units, ending the downturn in the past nine quarters. This news shows that the global The smartphone industry has ushered in a new growth cycle.

In Q4 2023, Apple topped the list with a market share of 22.6%, a year-on-year increase of 1%, showing strong performance.

Samsung followed closely behind with 16.6% market share, despite being the only top five player to post an annual decline.

Samsung faces lower-than-expected demand for foldable phone models and other high-end smartphones, while competition from leading Chinese brands intensifies in many regions around the world.

Xiaomi and Transsion ranked third and fourth respectively with double-digit growth rates. Xiaomi performed strongly in emerging markets, while Transsion’s growth benefited from normal inventory levels and new product release cycles. and relatively low smartphone penetration in Africa and other emerging markets.

And vivo ranks among the top five with an annual growth rate of 3%. OPPO, Honor, Motorola, Huawei and Realme followed closely, ranking six to ten.

Eight of the top ten global brands are Chinese brands, and all these Chinese brands have collectively achieved an annual growth rate of 18%, far exceeding the overall market of only 7%.

Despite the optimistic Q4 performance in 2023, TechInsights predicts that global smartphone shipments will increase by 3% year-on-year in 2024. Economic uncertainty and rising prices will still affect global consumer demand, but there are signs that the economy is bottoming out.

Samsung and Apple will continue to maintain their top two positions, but with the rise of Chinese brands, market share will continue to be eroded. Huawei's return will reshape the Chinese and global smartphone markets to a great extent, and manufacturer rankings are expected to undergo major changes in the next few quarters.

Editor’s comment:

In the spring of 2024, the cold winter of the mobile phone industry that lasted for more than two years has finally recovered, both for the upstream Supplier or consumer, this is a good thing.

Injecting new vitality into the industry will also encourage major manufacturers to continue to compete to introduce new products to meet the growing needs of users, becoming a key driving force for the development of the entire industry.

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