A new report by Canalys shows that the global market showed some signs of recovery in Q3 2023, and Samsung remained in the top spot, delivering a total of 57.2 million units, amounting to 20% of the market share. The second spot was grabbed by Apple, which bagged 17% market share in Q3 2023, followed by Xiaomi (14%), and OPPO (9%).
Previous quarters haven't been that great for the global smartphone market, as shipments are going south due to various factors, one of which is the recession in major economies. But Q3 2023 brings a ray of hope, and it seems like the global smartphone market is on the road to recovery. Smartphone shipments fell by 1% to 293.4 million units in Q3 2023.
New launches in Q1 2024 are expected to boost the global smartphone market
Samsung was able to retain its top spot because of the timely rollout of this year's foldables, i.e., the Galaxy Z Flip 5 and the Galaxy Z Fold 5. Apple, on the other hand, was able to ship 50 million units thanks to the robust demand for the iPhone 15 series, which features the long-awaited USB-C charging port.
Sanyam Chaurasia, Senior Analyst at Canalys, said, “Rising demand for fresh offerings in emerging markets is propelling brands and channels forward as the holiday season approaches.” Research analyst at Canalys, Lucas Zhong, said that the global smartphone market may witness a slight growth in Q1 2024.
Moreover, mobile manufacturers are expected to have good inventory by the end of Q4 2023, and there will be enough room to build a potential demand recovery.
