Apple and Samsung market shares drop as global smartphone market declines

Team Counterpoint’s Market Pulse service released the “Smartphone Insights and Analysis (August 2023)” report which showed the performance of smartphone brands worldwide. 

At a glance, the quarter-over-quarter yielded a growth of 2% in Q3 2023. However, the sell-through across the globe declined by 8% year-over-year, the ninth consecutive decline on record and the lowest on the Q3 levels.

The most likely reason is the slow recovery in consumer demand. The two tech giants in the East and West are still glued to the top of the food chain, though. 

Meanwhile, other players are gaining some foothold as regional markets recuperated in recent months. Check out the sell-through rates below.

Image credit: Counterpoint Research Market Pulse

The report associated Samsung’s lead to the Galaxy A-series for the mid-range market. Despite the limited availability of the latest iPhone 15 series, Apple remained second that defined the company’s resilience.

Xiaomi, OPPO, and vivo declined this quarter as well, likely because of key strengthening strategies in China and India, which slowed down their expansions in other markets.

Among many other brands, Huawei, HONOR, and Transsion performed strongly in Q3. The Mate 60 lineup in China pushed Huawei up, while HONOR’s presence in the international stage remained strong. Transsion brands expanded and benefitted from the recovering markets in the Middle East and Africa.

As developed markets like North America, South Korea, and Western Europe decline, China, India, and MEA are sustaining the momentum.

That momentum has affected several companies in the West, like Qualcomm. The chipmaker will lay off 1,200 workers as the demand for its chips dropped. This will take effect in December 2023.

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