TechInsights predicts that global smartphone shipments in 2023 will be 1.1522 billion units, a year-on-year decrease of 3.8%. Samsung maintains its lead with 19.6% market share, followed by Apple (AAPL) with 18.8%, its highest market share since 2013.
Data released by TechInsights shows that global smartphone shipments in Q4 2023 reached 317.6 million units, a year-on-year increase of 7.3%. This is the first time since Q3 2021 that the global smartphone industry has returned to the upward trajectory, ending nine consecutive quarters of downturn. The recovery of the global smartphone market is mainly due to the improvement of macroeconomics and consumption power, as well as the easing of inflation and economic recession concerns, the normalization of inventory levels by major manufacturers, and the recovery of China, India and other emerging markets.
In Q4 2023, Apple topped the list with a market share of 22.6%, a year-on-year increase of 1%; Samsung followed with a market share of 16.6%. However, among the top five vendors, Samsung was the only one to post an annual decline in the quarter, due to lower-than-expected demand for its foldable phone models and other high-end smartphones, as well as intensifying competition from leading Chinese brands in the Middle East, Africa, Latin America, Asia Pacific and Europe. Chinese brands Xiaomi and Transsion ranked third and fourth respectively with double-digit growth rates. Vivo ranked among the top five with an annual growth rate of 3% in the quarter.
Although Apple faces strong headwinds in China (Huawei is making a comeback in 5G) and mixed demand in North America and Europe, the widespread availability of older iPhones in emerging markets has helped Apple get through a tough period in 2023 and achieve impressive market share.
In contrast, Samsung experienced an annual decline in market share and was the only vendor in the top five to post a double-digit decline.
Xiaomi (01810) ranked third, followed by OPPO (OnePlus) and Transsion. Among the top five, only Transsion achieved double-digit growth (30% year-over-year growth), mainly due to its normal inventory levels, new product release cycles, and relatively low smartphone penetration in Africa and other emerging markets - Transsion's main target markets.