According to market research firm Counterpoint Research on Nov. 23, as of October, the global smartphone market’s monthly sales have increased by 5% compared to the same period last year, driven by recovery in emerging markets. This marks the first monthly sales increase since June 2021.
The rise in sales is attributed to the release of new products, including Apple’s iPhone 15 series and Huawei’s latest Mate 60 Pro smartphone, which boosted demand, particularly in emerging markets.
A representative from Counterpoint Research commented, “Global smartphone sales faced a slump due to various issues such as component shortages, stockpiling, and extended replacement cycles. Following strong growth in October, the market is expected to continue growing year-on-year in the fourth quarter and show gradual recovery in the coming quarters.”
In this competitive scenario, Samsung Electronics maintained its position as world leader with a 20% market share in the third quarter of the year, closely followed by Apple with 16%. Xiaomi (12%), Oppo (10%), and Vivo (8%) followed.
Furthermore, Counterpoint Research revealed that Samsung Electronics is expected to lead in smartphone shipments in 42 out of 74 countries worldwide. Notably, it is projected to take the top spot in India, the world’s second-largest smartphone market. This success is interpreted as a result of the diversified distribution network of Samsung’s Galaxy budget line, along with increased sales of its flagship S and Z series.