Samsung once again took the lead in the global smartphone market , taking first place in sales .
The South Korean company surpassed Apple, Xiaomi, OPPO, Vivo and other leading smartphone brands in the contract market. According to a report by Counterpoint Research, the global smartphone market declined by 8% in the third quarter of 2023 compared to the same quarter of 2022.
Samsung was the world's leading smartphone brand in the third quarter of 2023
The past year has been challenging for all the top smartphone companies, including Apple and Samsung. However, thanks to higher profitability, they are in a more favorable position compared to many other Chinese mobile brands. Samsung's smartphone market share reached 20% in the third quarter of 2023, although it saw a 13% decline in shipments compared to the previous year. Samsung introduced the fifth generation of foldable phones , the Galaxy Z Flip 5 and Galaxy Z Fold 5, during the current quarter. The company managed to increase sales of the Z Flip device compared to its predecessor, thanks to a larger screen coverage and improved performance. However, the Galaxy Z Fold 5 had mixed results as it did not show any significant improvements.
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Apple ranked as the second-largest smartphone company in the third quarter of 2023, with its sales declining by 9% compared to the previous year. This may be due to the fact that consumers were waiting for the release of the new iPhone 15, but this was also the case last year. According to the report, Apple had a 16% market share in the third quarter of the year.
Xiaomi, with a market share of 12%, ranks third globally. Its smartphone shipments fell by 15% compared to the previous year. OPPO and Vivo have an 8% share of the global smartphone market. While Vivo's phone shipments fell by 14%, OPPO's shipments fell by 15% compared to the third quarter of 2022. Huawei ,Honor and Tecno (Transsion) are the only smartphone brands to see an improvement in their shipments year-on-year.
Analysts predict that smartphone demand will recover by the fourth quarter of 2023 or early next year. This timeline would coincide with the launch of Galaxy S24 , which is expected to bring significant improvements in display, performance, and software. Samsung has indicated that the Galaxy S24 series will offer a lot of Generative AI.
Source: sammobile.com
