By Li Panpan

(JW Insights) Oct 17 -- Xiaomi, OPPO, and vivo rounded off the top five list by smartphone sales in the third quarter of 2023, with year-on-year declines, and they worked towards strengthening their positions in key markets like China and India while continuing to slow down expansionary efforts in overseas markets, according to the latest report by Counterpoint released on October 17.

Global smartphone sell-through volumes fell 8% year on year in Q3 2023, the ninth consecutive quarter to record a decline, but grew 2% QoQ.

Volumes declined YoY largely due to slower than expected recovery in consumer demand. But the market's QoQ growth, especially the positive performance in September despite one full week less of sales of the new iPhones, is likely a sign of positive news ahead, said Counterpoint.

Samsung continued to lead the global market, capturing a fifth of the total sales in Q3. Apple came in second with a 16% market share despite the limited availability of iPhone 15 series, which has been received well so far.

HONOR, Huawei and Transsion Group gained share and were among the only brands to record YoY growth in Q3. Huawei grew driven by the launch of the Mate 60 series in China, while HONOR's growth was led by strong overseas performance. Transsion brands continued to expand while benefiting from the recovery in the Middle East and Africa (MEA) market.

MEA was the only region to record YoY growth in Q3, owing to improvements in macroeconomic indicators. Most developed markets, like North America, Western Europe, and South Korea, recorded steep declines. However, we expect most developed markets to grow in Q4, mainly due to the delayed effect of the iPhone launch.

Following a strong September, Counterpoint expects the momentum to continue till the year-end, beginning 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 and ending with the Christmas and end-of-year promotions across regions. In Q4 2023, Counterpoint expects the market to halt its series of YoY declines.