Global smartphone market returns to growth – Counterpoint Research

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According to data from Counterpoint Research, the global smartphone market returned to growth in October after more than two years of slump, helped by a recovery in the emerging markets.
Reuters:
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The data showed that global monthly smartphone sell-through volumes grew 5%, making October the first month to record year-on-year growth since June 2021, breaking the streak of 27 consecutive months of negative year-on-year growth.
“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.
The growth, which was last seen in June 2021 coming from a COVID-19 induced pent up demand, has now been led by emerging markets with a continuous recovery in the Middle East and Africa, Huawei’s comeback in China and onset of festive season in India… The developed markets with relatively higher smartphone saturation have been slower to recover, the report said, but it cited the launch of Apple’s iPhone 15 series as another factor for the growth.

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MacDailyNews Take: Meanwhile, Apple is again knocking on the $3 trillion market value mark, currently at $2.98 trillion, up 0.52% in trading today.
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