Dismal Smartphone Sales in Q3 as People Hold On to Their Handsets

pcmag.com:

It's been a rough year for the smartphone market, as people held on to their pricey handsets, though things may be looking up for the fourth quarter thanks to the launch of the iPhone 15, according to data from Counterpoint Research.

Global smartphone sales dropped 8% year-over-year in the third quarter, "due to slower than expected recovery in consumer demand," Counterpoint says. But they increased 2% quarter-over-quarter as phone makers like Apple launched their new flagships. Still, the market is expected to end 2023 at its lowest level this decade.

Samsung came out on top for Q3 with 20% of the market, followed by Apple at 16% and Xiaomi, Oppo, and Vivo rounding out the top five.

Samsung's latest foldables, the Galaxy Z Flip 5 and Z Fold 5, came out in mid-August. According to Counterpoint, they "received a mixed response, with the Flip 5 outselling its counterpart by nearly twice as much." Its midrange A-series phones fared much better to remain market leaders.

Apple, meanwhile, released the iPhone 15 lineup in late September, a week later than it launched the iPhone 14 last year. The phones have "been received well so far," Counterpoint says.

Q4 will show "the full impact of the iPhone 15," and the market will likely halt its series of year-over-year declines, Counterpoint estimates.

What's interesting is that the other smartphone brands that don't comprise the top five were actually up 2% from this time last year. A few of the brands that saw growth were Huawei, Transsion Group, and Huawei's former sub-brand, Honor. According to Counterpoint Research, most of those gains were on the heels of the Huawei Mate 60 in China along with a recovery in the Middle Eastern and African markets and a stronger focus in each