In Q3 2023, the worldwide smartphone market shrank by 1% to 293.4 million units as manufacturers pushed new models after Q2’s robust inventory level, as per information from Canalys. With a country-level perspective on shipping forecasts that is well ahead of competitors, Canalys’ global smartphone analysis service is available. Even though its market share decreased somewhat from Q3 2022, Samsung continued to dominate with 20% of the market, followed by Apple in second place with 17%. In terms of unit shipments, Xiaomi recovered both yearly and sequentially to take the third spot with a 14% market share.
With a 9% market share, OPPO (which includes OnePlus) secured the fourth position, mostly because of its strong presence in Asia-Pacific. Geopolitical unrest and worldwide socioeconomic uncertainty are blamed for the fall in the smartphone industry. The newly formed recovery and channel operations were quite fragile as a result. With 57.4 million devices shipped and a 20% worldwide market share, Samsung maintained its leading position in the industry. The reason behind this top-class performance and Q3 2023 revenue for Samsung is all because of the two-week early introduction of the Galaxy Z Flip and Fold 5 series.
On the other hand, the strong demand for the iPhone 15 series, which has the eagerly anticipated USB-C charging connector, allowed Apple to ship 50 million handsets. With competitive products and channel engagements, Xiaomi and TRANSSION have quickly benefited from the recovery in emerging countries, while Samsung is lowering its exposure in the entry-level category in order to concentrate on profitability. Research analyst at Canalys, Lucas Zhong, stated that 2024 will bring a great rise to the smartphone market. This will be greatly applicable to Samsung, as the manufacturer will be introducing their next anticipated smartphone, the Galaxy S24 series, which will roll out in the first quarter of 2024.
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.”
