The first quarter of 2023 saw a decline in the shipments of smartphones market worldwide, except for Apple. Despite Samsung’s majority market share, the only major brand that saw growth in Q1 2023 was Apple, according to a recent Canalys report.
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Smartphones Market Sales Q1 2023: Details
Samsung Regains Top Spot Despite Continued Decline
Due to limited consumer demand, inventory build-up, and supply-chain issues caused by the Covid-19 pandemic, the smartphone market has been declining for the past five quarters, including this one. Despite this, Samsung regained the number one spot with a market share of 22%, shipping 60.3 million smartphones in Q1 2023. Samsung achieved a quarter-on-quarter recovery due to its revamped Galaxy S and Galaxy A portfolios.
Apple’s Impressive Growth
Interestingly, Apple was the only major brand growing in Q1 2023. The company shipped 58 million iPhones this quarter, increasing its market share by 21%. This growth was largely due to the popularity of its iPhone 14 Pro series. The company reported a 3% increase in iPhone shipments year over year as a result.
Xiaomi, Oppo, and Vivo
Xiaomi saw the largest decline in market share with, 30.5 million shipments and an 11% market share. Oppo and Vivo accounted for 26.6 million and 20.9 million shipments in the fourth and fifth positions, respectively. Oppo has a market share of 10%, while Vivo has a share of 8%.
Reasons for Cautious Optimism
Samsung’s quarterly recovery and Apple’s growth give cause for cautious optimism. Canalys analysts expect the smartphone market to recover soon.
“Shipments will stabilize around the levels seen in 2022 by the middle of 2023,” said Canalys analyst Lucas Zhong. As channel inventories reach healthier levels, Canalys expects the smartphone market to gain momentum in the year’s second half.
The first quarter of 2023 saw a decline in the shipments of smartphones worldwide. Still, Samsung regained the top spot despite the continued decline. Apple was the only significant company to experience growth as a result of the success of its iPhone 14 Pro line. Xiaomi, Oppo, and Vivo experienced declines in market share. However, Apple’s growth and Samsung’s quarter-on-quarter recovery provide reasons for cautious optimism, as Canalys analysts expect the smartphone market to recover soon.