Residents Reluctant to Buy Cellphones, Unknown Chinese Brands Are Selling Tech – 4 hours ago

Jakarta, CNBC Indonesia – Counterpoint Research released its latest report on the world cellphone market for the third quarter of 2023.

Overall, global HP sales volume fell 8% YoY in Q3 2023, which is the ninth consecutive quarter with a record decline.

In this report, Samsung is the top HP vendor globally, ahead of its competitor, Apple. Samsung has succeeded in controlling 20% ​​of the global HP market share. However, sales fell 13%.

Meanwhile, Apple is in second place with a market share of 16%. Sales fell 9% YoY.

Vendors from China such as Xiaomi (12%), Oppo (10%) and Vivo (8%) complete the top five positions on the list. Each experienced a decline in sales, respectively 15%, 10% and 14%.

In the third quarter, all brands sought to strengthen their positions in key markets such as China and India, while continuing to slow down expansion efforts in overseas markets.

In the midst of the global cellphone market which is still sluggish, ‘less well-known’ Chinese brands are experiencing growth. Honor, Huawei and Transsion Group gained a combined market share of 34%. These brands collectively recorded 2% YoY growth.

Huawei’s growth was driven by the launch of the Mate 60 series in China while Honor’s growth was driven by strong performance overseas. Transsion’s brands also continue to grow and benefit from the recovery of the Middle East and Africa (MEA) markets.

MEA was the only region to record YoY growth in Q3, thanks to improving macroeconomic indicators. Most developed markets, such as North America, Western Europe and South Korea, recorded sharp declines.

“However, we estimate that most developed markets will grow in Q4, especially due to the impact of the delay in the launch of the iPhone,” wrote the Counterpoint report, quoted from its official website, Friday (20/10/2023).

After a strong September, the research firm expects the momentum to continue through the end of the year, starting with the full impact of the iPhone 15 series along with the arrival of the festive season in India, followed by the 11.11 sales event in China.

However, the market is expected to decline throughout 2023, reaching its lowest level in the decade, largely due to changes in device replacement patterns, especially in developed markets.

The recovery of developing countries before the global market and the growth of brands outside the top five indicate a shift in dynamics and opportunities in the global smartphone market.

[Gambas:Video CNBC]

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