According to the most recent report shared by Canalys Smartphone Market Pulse, international smartphone shipments in Q2 2023 were recorded at 258.2 million units. When we compare the latest figures to the same period last year, it is a decrease of 10%. When it comes to the quarterly growth the smartphone market has observed six consecutive quarters of negative growth.
On the other hand, global smartphone demand is gradually increasing as a result of inventory reductions across the board and growing regional market demand. The South Korean conglomerate was once again recorded occupying the top position with 53 million shipments and a 21% market share. With respect to shipments and market share, Apple was able to grab the second position with 43 million shipments and a 17% market share.
The third rank was occupied by Xiaomi with 33.2 million shipments and a 13% market share. Oppo held the 10% market share with its 25.2 million shipments. Transsion holds the smartphone brands like Tecno, Infinix, and iTel. It was able to occupy the fifth spot with its 22.7 million shipments and a 9% market share. The growth of Transsion in developing nations and its robust sales in the Middle East, Africa, and Latin American markets has cemented its place among the top five smartphone brands. Additionally, Transsion is the only brand with a 22% positive annual growth.
The second half of 2023 will see a continued, slight fall in smartphone demand, according to researchers at Canalys. It is anticipated that the business environment will improve, and vendors who can balance long-term structural changes will succeed.
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