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The global smartphone market revenues remained flat year-over-year (YoY) despite growing by 15% Quarter-over-Quarter in the third quarter of 2023 (Q3 2023) with Apple leading the market share– its highest-ever for a calendar Q3, a report said.
According to a report by Counterpoint Research, Apple grabbed 43% of the market share of global smartphone revenues, despite its latest iPhone 15 series being available for one less week in the quarter compared with its predecessor.
Furthermore, this has translated into Apple also clocking its highest-ever share of global smartphone revenue for a September-ending quarter.
“Pro Max being the best-selling variant of the iPhone 15 series contributed to Apple also achieving its highest-ever Q3 operating profit,” said Harmeet Singh Walia, senior analyst at Counterpoint.
“However, its global smartphone operating profit share remained flat due to a resurgence of Huawei and Honor, and an increased focus on profitability by other Chinese OEMs such as Xiaomi and Oppo. Consequently, the global smartphone operating profit reached an all-time high, signalling more definitely how the smartphone market has adjusted to the post-pandemic trend of lower shipments,” Walia added.
However, the research firm noted that the full impact of the iPhone 15 series is yet to be seen during the global holiday season as its revenues are expected to be boosted by upgrades from iPhone 11 and 12 users.
Samsung’s annual revenue declined
The research firm said that since Samsung’s shipments declined 8%, its revenue declined by 4% annually. Samsung’s ASP grew 4% YoY due to the ‘successful’ launch of Fold 5.
Meanwhile, Oppo’s focus on phones with higher ASPs, such as foldables, is helping the Chinese company achieve profitability. However, a slowdown in its expansion outside of China and India resulted in its YoY shipment decline.
Its sister company Vivo remained profitable but faced challenges in its home country, where its promotions have been less aggressive than Honor and Xiaomi. “Consequently, Vivo’s smartphone revenue fell 12% YoY, and is almost half of Q3 2021,” the report said.
‘Good news’ for Xiaomi
Xiaomi is the only top five smartphone brand to see shipment increases both QoQ and YoY in Q3 2023, the report said, noting that the company strengthened its positions in key markets such as China and India.
Xiaomi offered more affordable mid-range products at promotional prices to both retailers and consumers.
According to a report by Counterpoint Research, Apple grabbed 43% of the market share of global smartphone revenues, despite its latest iPhone 15 series being available for one less week in the quarter compared with its predecessor.
Furthermore, this has translated into Apple also clocking its highest-ever share of global smartphone revenue for a September-ending quarter.
“Pro Max being the best-selling variant of the iPhone 15 series contributed to Apple also achieving its highest-ever Q3 operating profit,” said Harmeet Singh Walia, senior analyst at Counterpoint.
“However, its global smartphone operating profit share remained flat due to a resurgence of Huawei and Honor, and an increased focus on profitability by other Chinese OEMs such as Xiaomi and Oppo. Consequently, the global smartphone operating profit reached an all-time high, signalling more definitely how the smartphone market has adjusted to the post-pandemic trend of lower shipments,” Walia added.
However, the research firm noted that the full impact of the iPhone 15 series is yet to be seen during the global holiday season as its revenues are expected to be boosted by upgrades from iPhone 11 and 12 users.
Samsung’s annual revenue declined
The research firm said that since Samsung’s shipments declined 8%, its revenue declined by 4% annually. Samsung’s ASP grew 4% YoY due to the ‘successful’ launch of Fold 5.
Meanwhile, Oppo’s focus on phones with higher ASPs, such as foldables, is helping the Chinese company achieve profitability. However, a slowdown in its expansion outside of China and India resulted in its YoY shipment decline.
Its sister company Vivo remained profitable but faced challenges in its home country, where its promotions have been less aggressive than Honor and Xiaomi. “Consequently, Vivo’s smartphone revenue fell 12% YoY, and is almost half of Q3 2021,” the report said.
‘Good news’ for Xiaomi
Xiaomi is the only top five smartphone brand to see shipment increases both QoQ and YoY in Q3 2023, the report said, noting that the company strengthened its positions in key markets such as China and India.
Xiaomi offered more affordable mid-range products at promotional prices to both retailers and consumers.
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