Sales figures are down for the eighth time in a row. However, the premium segment is developing positively. Inventory levels are also showing the first signs of an easing in the market.
In the second quarter of 2023, the smartphone market is compared to the same period last year down 8 percent. The sales figures were thus in decline for the eighth quarter in a row. However, the market researchers from Counterpoint report a slight easing in the premium segment.
Thanks to high demand for its A-series devices, Samsung maintains its position as the market leader with a stagnant market share of 22 percent, according to Counterpoint. Apple, meanwhile, improved from 16 percent to 17 percent — arguably the Cupertino-based company’s highest share in a second quarter. The three Chinese suppliers Xiaomi, Oppo and Vivo follow with shares of 12, 10 and 8 percent respectively.
The premium segment is immune
“The global smartphone market appears to have emerged from its rapid growth phase as consumer replacement cycles lengthen, device innovation converges, and a more mature refurbished smartphone market emerges, primarily targeting lower- to mid-priced, higher-volume demand,” said Counterpoint.
However, the premium segment with a price range of more than 600 dollars was immune to these developments. According to Counterpoint, it was the only market segment with growth in the second quarter. The proportion of premium devices also reached a new high in a second quarter at more than 20 percent.
Apple has benefited more from this trend than the other providers. Demand for iPhones has risen sharply, especially in markets that are new to Apple. For India, for example, the market researchers determined an increase of 50 percent compared to the previous year.
Counterpoint also rates the development of inventory levels in the channel as positive. They have returned to a “normal” level in the past four to five months, allowing OEMs to attract buyers with new devices in the second half of the year. “We expect the market to recover slowly over the coming quarters,” added Counterpoint.