The smartphone market has grown after two years

The global smartphone market started to grow again in October after more than two years of decline, helped by a recovery in emerging markets, according to data from Counterpoint Research. Huawei and Apple’s launch of their new smartphones and the increase in consumer demand were effective in this growth.

First growth in two years

Data showed that global monthly smartphone sales volumes increased by 5 percent, making October the first month to record year-on-year growth since June 2021. The smartphone market thus broke the negative annual growth streak that lasted for 27 consecutive months. In its report, Counterpoint stated that global smartphone sales have been under stress for the last two years, affected by various issues such as component shortages, stock accumulation and extended replacement cycles.

Following strong growth in October, the market research company expects the market to grow on an annual basis in the fourth quarter of 2023, and the market will gradually enter the recovery path in the coming quarters. Growth driven by COVID-19-induced pent-up demand, last seen in June 2021, is now supported by emerging markets with a sustained recovery in the Middle East and Africa, Huawei’s comeback in China and the start of the festive season in India specified.

Huawei’s smartphone sales in China showed strong growth, rising 37% in the third quarter as customers snapped up the Mate 60 series phones. It is possible to say that the growth in China is also reflected in the global indicator. The report stated that the recovery of developed markets, where smartphone saturation is relatively higher, is slower, and Apple’s launch of the iPhone 15 series was cited as another factor behind the launch.