In a twist of fate, the smartphone market has been on a diet lately, shedding 8% of its sales in the most recent quarter (i.e. Q3 2023). It's like those New Year's resolutions we make and then quickly abandon – but in this case, it's been going on for nine quarters straight. According to the tech wizards at Counterpoint Research, the slump is due to consumers keeping a tight grip on their purse strings, causing the market to lose its sparkle.
Don't despair, though! The horizon is not all gloom and doom. September saw a glimmer of hope with strong sales and all the buzz surrounding Apple's spiffy iPhone 15 lineup. It's like a superhero swooping in to save the day, or at least the quarter.
Yet, before we raise the victory flag, Counterpoint suggests that the overall market might still crumble throughout 2023. This potential downfall is mainly because folks in developed countries are deciding to stick with their trusty devices instead of upgrading. It's like that old, comfy pair of sneakers that you refuse to part with – even if they're fraying at the edges.
Meanwhile, in the world of smartphone domination, South Korean giant Samsung still wears the crown, accounting for a whopping 20% of the total sales. And coming in at a close second is Apple, holding 16% of the market, thanks to the warm reception of their iPhone 15 models.
"Xiaomi, OPPO and vivo rounded off the top five, with the three recording YoY declines.", stated CPR team in a blog post.
It's like a rivalry fit for the tech history books. Let's see who emerges victorious in this game of digital thrones! Take a look at the chart below more insights.
Read next: Is Meta's Threads App the Next Big Thing for Marketing? 49% of Marketers Are Unsure
Don't despair, though! The horizon is not all gloom and doom. September saw a glimmer of hope with strong sales and all the buzz surrounding Apple's spiffy iPhone 15 lineup. It's like a superhero swooping in to save the day, or at least the quarter.
Yet, before we raise the victory flag, Counterpoint suggests that the overall market might still crumble throughout 2023. This potential downfall is mainly because folks in developed countries are deciding to stick with their trusty devices instead of upgrading. It's like that old, comfy pair of sneakers that you refuse to part with – even if they're fraying at the edges.
Meanwhile, in the world of smartphone domination, South Korean giant Samsung still wears the crown, accounting for a whopping 20% of the total sales. And coming in at a close second is Apple, holding 16% of the market, thanks to the warm reception of their iPhone 15 models.
"Xiaomi, OPPO and vivo rounded off the top five, with the three recording YoY declines.", stated CPR team in a blog post.
It's like a rivalry fit for the tech history books. Let's see who emerges victorious in this game of digital thrones! Take a look at the chart below more insights.
Read next: Is Meta's Threads App the Next Big Thing for Marketing? 49% of Marketers Are Unsure
