In 2023, the global smartphone market only fell by 4, indicating signs of stabilization

Source: Canalys

    In the fourth quarter of 2023, the global smartphone market grew by 8% year-on-year to 319.5 million units, further indicating signs of stabilization and recovery. The total shipment volume for the whole year of 2023 was 1.14 billion units, which narrowed to 4% compared to 2022. Despite facing challenges in the core market, Apple ranked first for the year for the first time with a 20% market share and 229.2 million units shipped. Samsung closely followed suit, with a strategy of maintaining profitability throughout the year, shipping 225.4 million units and a market share of 20%. Xiaomi has consolidated its third position and maintained a 13% market share, with a shipment volume of 146.4 million units. OPPO and Transsion ranked fourth and fifth, with market shares of 9% and 8%, respectively.

    Sanyam Chaurasia, senior analyst at Canalys, commented, "The recovery of emerging markets has led the market rebound in the second half of the year, narrowing the decline in the global smartphone market. Benefiting from the additional resources and attention of manufacturers, as well as the continuous launch of mass market models, Latin America, Africa, and the Middle East have shown strong recovery momentum since the third quarter.". At the same time, while the overall macroeconomic situation in the Asia Pacific region has improved, consumer demand has also shown a significant increase at the end of the year. Transsion and Xiaomi benefited from the rebound in these mass markets and achieved remarkable year-on-year growth in the fourth quarter. However, mature markets, including Chinese Mainland, Europe and North America, are still suffering from weak consumer spending and reduced channel side investment. Looking ahead to 2024, emerging markets will still be a strategic location for most manufacturers seeking growth. “s such as model upgrades and inventory in the first and second quarters of 2024, the company is expected to start a new round of growth cycle.