The worldwide smartphone market returned to development in October after greater than two years of stoop, helped by a restoration within the rising markets, in accordance with knowledge from Counterpoint Analysis. The information confirmed that world month-to-month smartphone sell-through volumes grew 5 p.c, making October the primary month to report year-on-year development since June 2021, breaking the streak of 27 consecutive months of detrimental year-on-year development.
The worldwide smartphone gross sales have been beneath stress for the final two years affected by numerous points beginning with element shortages, stock build-up and lengthening of alternative cycles, Counterpoint stated in its report.
“Following robust development in October, we count on the market to develop year-on-year within the fourth quarter of 2023 as nicely, setting the market on the trail to a gradual restoration within the coming quarters,” the market analysis agency stated.
The expansion, which was final seen in June 2021 coming from a COVID-19-induced pent-up demand, has now been led by rising markets with a steady restoration within the Center East and Africa, Huawei’s comeback in China and the onset of the festive season in India, it added. Huawei’s China smartphone gross sales grew strongly within the third quarter, surging 37 p.c, as buyers snapped up its Mate 60 sequence telephones.
The developed markets with comparatively larger smartphone saturation have been slower to get well, the report stated, however it cited the launch of Apple’s iPhone 15 sequence as one other issue for the expansion. The report stated that the delay of 1 week translated into excessive demand for the brand new iPhone in October. In India, Apple noticed a report income for the sixth time in a row, reaching a market share of 6 p.c.
— Written with inputs from Reuters
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