ALBAWABA - Smartphone sales increased after falling over 27 months, with support from recovery in emerging markets , retail sales of smartphones increased 5% on an annual basis last month ,October sales also had the highest monthly growth rate since January 2022.
The statement noted that continued recovery in emerging markets supported growth, particularly in the Middle East and Africa, the return of Huawei in China and the beginning of the holiday season in India.
Sales were also supported by the launch of the latest Apple issue, iPhone 15, at the end of September. On the other hand, developed markets with relatively high saturation with smartphones experienced slower growth rates.
Global sales of smartphones were affected by lack of components, accumulation of stocks and longer replacement cycles.
At the same time, Counterpoint Research expects the global smartphone market to grow faster in the current fourth quarter.
after strong growth in October, we expect the market to grow on an annual basis also in the last quarter of 2023, placing the market on the path of gradual recovery in the coming quarters.
