Smartphone shipments continue to decline as secondhand and premium markets thrives

The smartphone market has been in decline for the last few quarters, and that’s not surprising given global economic condition. A pair of reports from analytics firms Counterpoint and Canalys suggests that the trend is continuing, even though there are signs of recovery in the future. The reports note that buyers are still looking for cheaper options, either through the refurbished market or companies offering discounts for their older models to clear stocks.

The smartphone market has registered a decline for the eighth straight quarter with an 8% year-on-year dip, according to a report by analytics firm Counterpoint. Canalys’ report suggests that the dip for Q2 2023 was 11% with a streak of six quarters of negative growth.

Samsung led the pack because of strong sales of its mid-range Galaxy A series. While Apple held the second spot, the iPhone maker had the biggest Q2 market share ever, according to Counterpoint. China-based incumbents Xiaomi, Oppo, and Vivo took third, fourth, and fifth spots. Both Canalys and Counterpoint reports noted almost similar market shares for these phone makers.

 

 

 

 

 

 

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