The market research organization Counterpoint pointed out in a report released today that in the third quarter of 2023, global smartphone revenue was flat year-on-year and increased by 15% quarter-on-quarter to slightly more than 100 billion U.S. dollars, of which Apple’s revenue and revenue share hit a new high for the quarter.
According to reports, Apple accounted for 43% of global smartphone revenue share in the quarter. Compared with the previous generation model (iPhone 14 series) in the same period last year, Apple’s iPhone 15 series phones will be launched one week earlier this year. This is one of the “important reasons” why Apple’s revenue share reached a record high in the quarter.
Counterpoint senior analyst Harmeet Singh pointed out that among the iPhone 15 series of phones, iPhone 15 Pro Max is the best-selling model. However, Apple’s share of global smartphone operating profit remained flat compared with the previous year due to the resurgence of Huawei and Honor and increasing concerns from Chinese manufacturers such as Xiaomi and OPPO about the company’s profitability. Global smartphone operating profits reached a record high, a clear indication that the smartphone market has adapted to declining shipments.
In addition, the average selling price of Samsung phones increased by 4% year-on-year in the quarter. The report stated that this was due to factors such as the successful launch of Fold 5, continued sales momentum of the S23 series, and the increase in the share of flagship products in major product series. However, Samsung’s shipments fell 8% during the same period, which offset the increase in average selling prices, resulting in Samsung’s revenue falling 4% year-on-year.
At the same time, Xiaomi is the only top five smartphone brand to achieve both quarter-on-quarter and year-on-year growth in shipments during the quarter. The results were driven by strong sales of the Redmi K and Note series as it strengthened its position in key markets such as China and India, offering more affordable mid-range products at promotional prices to influence retailers and consumers alike It also played a positive role. According to the report analysis, Xiaomi has continuously achieved growth in revenue and operating profit. Not only has its quarterly growth performance been outstanding, but its annual growth has also been very impressive.
While OPPO achieves profitability by selling phones with higher average selling prices, it has slowed down its expansion in markets outside of China, India and other places, resulting in a year-on-year decline in shipments. Smartphone revenue in the first three quarters of this year reached its lowest level since the epidemic. level. In addition, vivo’s promotion efforts in China are not as strong as those of Honor and Xiaomi, and it is currently facing a “severe test”: revenue in the quarter fell 12% year-on-year, almost half of the third quarter of 2021.
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