The smartphone market sees the end of the tunnel

For the first time in two and a half years, global sales increased in October, driven by dynamic demand in emerging markets.

The smartphone industry lets out a “phew” of relief. After twenty-seven consecutive months of decline, the global market recorded growth of 5% year-on-year in October, the first since June 2021. Sales reached their highest level since January 2022 according to figures from Counterpoint Research. What to glimpse now a growing end of the yearand the start of a gradual recovery after a long period of depression. The market bottomed out in 2023, we expect a gradual recovery »also believes Toby Zhu, analyst at Canalys.

The brightening came from emerging countries, starting with China, the leading smartphone market. Despite a slowdown in the economy, which weighs on consumption, Huawei’s new phone, the Mate 60 Pro, equipped with a 100% Chinese chip, has enjoyed considerable success with more than 1.6 million customers. terminals sold. Its growth has been meteoric thanks to marketing and strong media coverage around its “made in China” processor. »notes Archie Zhang, analyst specializing in China at Counterpoint Research.

Market growth has also been observed elsewhere

Other Chinese manufacturers have also seen their sales increase significantly thanks to their innovative, foldable models, accessible to different budgets. A sign of this newfound optimism, the manufacturer Honor, number one on the Chinese market, has confirmed that it is working on an IPO. For its part, number three, Xiaomi, posted growing results in the third quarter for the first time in a year and a half. Launched at the end of September, the latest addition to the Apple range, the iPhone 15, also produced its first full effect on sales in October.

Smartphone rebound in 2024 will be fueled by emerging markets

Sanyam Chaurasia, analyst at Canalys

Besides China, market growth was also observed in the Middle East, Africa, Latin America and India. Enough to counterbalance the sluggish demand in Europe and North America. In these regions, consumers are now less on the lookout for the latest developments and less eager to renew their phones. They are also more likely to opt for reconditioned products.

For the whole of 2023, the market decline is now expected to be around 5%, compared to 12% in 2022. Sales could return to strong colors next year. Smartphone rebound in 2024 will be fueled by emerging markets », estimates Sanyam Chaurasia, analyst at Canalys. Next year, one in three smartphones will be purchased in the Asia-Pacific region.

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