Global smartphone shipments amounted to 302.8 million units during the third quarter of 2023, a slight year-on-year decline by 0.1 percent.
According to research firm IDC, the small drop can be attributed to the continuing macroeconomic challenges, including inflation and geopolitical unrest. But despite this, IDC’s Nabila Popal said that Xiaomi and other manufacturers in emerging markets are increasing their shipments after observing the slower pace of decline and optimal stock levels.
Popal also emphasized the need for smartphone vendors to monitor their sell-through to avoid overstocking again in regions with weaker demand. Meanwhile, economic uncertainties haven’t deterred Apple as it experiences growth in every region.
Except for China, that is, where shipments fell year-over-year by 6.3 percent in Q3 2023 and where the Cupertino company is dealing with increasing competition from Huawei. Chinese consumer spending has also been impacted by youth unemployment, real estate crisis, and deflation.
OPPO has suffered a slight YoY decline in its market share, but it managed to stay in the top 5. Transsion, on the other hand, got a massive increase due to the combined rise of Infinix and TECNO.
Shipments have also declined in Europe (8.6%), Japan (5.3%), and the US (1.1%). However, the global average managed to remain stable with just the 0.1 percent decline, thanks to shipment growth in the Middle East and Africa (18.1%) and Latin America (8.2%). Excluding Japan and China, other markets in the Asia-Pacific saw a 1.3 percent growth.
Amid the decline, Anthony Scarsella from IDC also pointed out the unexpected growth in the high-end smartphone market. He credited this to appealing trade-in offers and financing options available in developed nations. The fact that the phones also have superior quality, advanced features, and extended support makes them more attractive to consumers, even with their higher price tags.