TrendForce released a report today. The total global smartphone production in the third quarter was approximately 308 million units, an increase of 13% from the previous quarter. Although it is not as good as the pre-epidemic level, compared with the same period in 2022, the annual growth About 6.4%, ending an annual recession cycle of eight consecutive quarters.
Looking forward to the fourth quarter, due to incentives such as e-commerce promotions and the year-end shopping season, coupled with the inertia of smartphone brands sprinting for production numbers at the end of the year, TrendForce predicts that total output in the fourth quarter will have the opportunity to increase by another 5~10% quarter-on-quarter. The recession in 2023 is expected to converge to less than 3%, with total production reaching approximately 1.16 billion units.
It is learned from the report that the top six smartphone brands in the world in the third quarter of 2023 are Samsung, Apple, Xiaomi, OPPO, Transsion, and vivo.
▲Image source TrendForce
According to the report, Samsung benefited from the mass production of flagship phones in the second half of the year. In the third quarter, its output increased by 11.5% month-on-month to 60.1 million units, ranking first in the world. Although Samsung has an extensive global presence, due to the impact of the global economy, its production plan for this year is conservative. The estimated annual production volume should be only 5 million units behind Apple.
Benefiting from the release of new flagship phones, Apple’s third-quarter output increased by 17.9% quarter-on-quarter to approximately 49.5 million units, ranking second. Due to the poor initial yield rate of the iPhone 15/15 Plus’s CIS (CMOS image sensor), which affected Apple’s production performance in the third quarter, the market share fell by 1.5% compared with the same period last year, and the full-year output is expected to be the same as in 2022.
It is worth noting that this year Huawei returns with its flagship phone to capture China’s high-end smartphone market, with Apple bearing the brunt; as Huawei plans to increase the market size of its high-end flagship series in 2024 and target the Chinese domestic market, this product is bound to compete directly with Apple , it is expected to have a significant impact on Apple’s production performance next year.
Xiaomi (including Xiaomi, Redmi, and POCO) has come to an end as the channel inventory correction has come to an end. At the end of the year, its attitude towards complete machine production and parts stocking has turned positive. In addition, the Indian market has resumed active operations, and its output in the third quarter has increased year-on-year. Growth of 22.3%, approximately 42.8 million units, the full-year output will show growth, firmly ranking third in the world.
OPPO (including OPPO, realme, and OnePlus) produced 38.7 million units in the third quarter, a quarter-on-quarter increase of 15.2%, ranking fourth in the world. The brand also benefited from increased sales in markets such as India and South America, driving an increase in production in the third quarter. The growth trend will continue into the fourth quarter.
Transsion (including TECNO, Infinix, and itel) continued its popularity in the second quarter. Its output in the third quarter reached 26.5 million units, a month-on-month increase of 5.6%, and once again surpassed vivo to take the fifth place in the world. In recent years, Transsion has benefited from the growth of emerging markets, driving up its market share. Since the second quarter, its market share has continued to expand. The annual growth rate of its annual output may exceed 40%, and it continues to compete with vivo for the fifth position in the world.
Vivo (including Vivo and iQOO) produced 24.5 million units in the third quarter, an increase of 6.5% from the previous quarter, ranking sixth. Limited by the weak global economy, vivo’s production plan for the first half of this year is relatively conservative, even though it will be one of vivo’s main sales markets in the second half of the year. China’s market conditions have improved, but it still chooses to maintain a steady profit strategy.