Global smartphone sales rose in October after 27 straight months of decline, driven by a rebound in emerging markets, according to market research firm Counterpoint Research.
According to the report, sales transactions or retail sales rose 5% year-on-year in October.
“Emerging markets led growth as the Middle East and Africa continued to recover, Huawei returned to China and India entered the festive season,” the research firm said, adding that developed markets with relatively high smartphone saturation saw growth. Recovery is slow.
Huawei reported rapid growth among Chinese smartphone makers in the third quarter after it launched its Mate 60 Pro smartphone in September, which sparked consumer interest with its advanced processors.
The report shows that smartphone sales in October also reached the highest monthly sales since January 2022.
The iPhone 15 series, which Apple launched at the end of last September, also contributed to an increase in smartphone sales.
Counterpoint Research said: “This launch was delayed by a week compared to last year; “This means we will feel the full impact of sales of the new iPhone series in October.”
Smartphone sales have been hit globally by spare parts shortages, inventory delays and long replacement cycles.
“The uncertain macroeconomic environment has exacerbated these issues, with global smartphone sales declining every month for more than two years,” the research firm said.
Technology research firm Canalys said last month that the decline in global smartphone sales was slowing, with shipments down just 1% in the third quarter, compared to a 10% decline in the previous quarter.
“Growing demand for new products in emerging markets is driving brands and channels,” said Sanyam Chaurasia, principal analyst at Canalys.
According to Counterpoint Research, South Korea's Samsung continued to dominate the global market in the third quarter, accounting for 20% of total sales.
Apple ranks second with a 16% market share, followed by Chinese brands Xiaomi (12% share), Oppo (10% share), and Vivo (8% share).
Counterpoint Research expects the global smartphone market to see significant growth in the fourth quarter, saying: “After strong growth in October, we expect the market to continue to see year-on-year growth in the fourth quarter of 2023.” Putting the market on the path to gradual recovery in the future.”