Global Smartphone Sales Rebound In October After Two Years Decline
Global smartphone sales have bounced back in October after declining for over two years. This was revealed in a data from Counterpoint Research, a global technology market research firm in the Technology, Media and Telecom (TMT) industry.
According to the report, sell-through transactions, or retail sales volumes, grew 5% year-on-year in October. The month also recorded the highest monthly smartphone sales since January 2022.
The research firm explained that the growth was led by emerging markets, with a continuous recovery in the Middle East and Africa. Huawei’s comeback in China and the onset of the festive season in India.
Huawei clocked the fastest growth among smartphone makers in China in the third quarter after the firm released its Mate 60 Pro smartphone in September, sparking consumer interest due to its advanced chip.
The launch of Apple’s iPhone 15 series in late September also helped bolster smartphone sales. “As compared to last year, the launch was delayed by a week which meant the full effect of the new iPhone sales was felt in October,” said Counterpoint Research.
Global smartphone sales have been impacted by component shortages, inventory build-up and longer replacement cycles.
“These issues have been compounded with an uncertain macroeconomic environment and as a result, global smartphone sales have declined year-on-year every month for more than two years,” the research firm said.
Another Technology research firm Canalys last month said the decline in global smartphone sales was slowing with third-quarter shipments falling just 1% compared with a 10% decline the previous quarter.
“Rising demand for fresh offerings in emerging markets is propelling brands and channels forward as the holiday season approaches,” said Sanyam Chaurasia, Senior Analyst at Canalys.