Over the last eight quarters shipments have been:
The smartphone market turned up in October, says Counterpoint Research which is the first month it has grown y-o-y for two years. For Q3, Counterpoint is forecasting the first growth quarter for eight quarters.
October shipments grew 5% y-o-y which is the first month in 27 consecutive months since June 2021 to show y-o-y growth.
2021 Q4 371.4
2022: Q1 326.4 Q2 294.5 Q3 301.9 Q4 303.9
2023: Q1 280.2 Q2 268 with a forecast for Q3 of 299.8
Propelling October’s growth was a recovery in smartphone sales in the emerging markets – notably an upswing in the Middle East and Africa, a resurgence by Huawei in the China market and the arrival of the festive season in India.
“Following strong growth in October, we expect the market to grow year-on-year in the fourth quarter of 2023 as well, setting the market on the path to gradual recovery in the coming quarters,” the market research firm said.
For the full year, Counterpoint’s forecast is:
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