8% fewer smartphones sold worldwide in the third quarter

8% fewer smartphones sold worldwide in the third quarter

New York, October 21, 2023

According to the latest data from Counterpoint Research, global smartphone sales fell 8% in the third quarter of 2023, reaching their lowest third quarter level in a decade.

Samsung maintained its global leadership position in the third quarter with a 20% market share, while Apple was in second place with 16%.

In the third quarter, the combined market share of the five largest smartphone brands fell while smaller competitors gained ground. Among the top five global brands, Chinese smartphone makers Xiaomi, OPPO and Vivo were the only ones to expand their market share and post year-on-year sales growth.

Samsung’s global market share fell to 20% (from 21%), reflecting a 13% decline in sales, while Apple’s share fell to 16% (down 1%) due to a 9% decline in sales. Together, the top five brands accounted for 64% of the market, up from 68% in previous years

According to Counterpoint, sales growth in emerging markets and the increasing importance of smaller brands indicate changing dynamics in the global smartphone market. Meanwhile, nine straight quarters of declines in global smartphone sales were largely due to a slower-than-expected recovery in consumer demand. Counterpoint expects sales to rebound in the fourth quarter, but still forecasts that full-year 2023 sales could hit their lowest level in a decade.

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