2023Q3 global mobile phone market revenue report: Apple leads with 43%, leading runner-up Samsung by 26%.
According to the latest report released by market research agency Counterpoint Research, the global smartphone market revenue in the third quarter of 2023 was slightly more than 100 billion US dollars, an increase of 15% from the previous quarter.
In terms of global smartphone revenue share, although Apple’s iPhone 15 series was launched one week less than the same period last year, Apple led the way with 43%, setting a new record for its highest share in the third quarter ever.
Senior Analyst Harmeet Singh Walia said:
The iPhone 15 Pro Max is the best-selling model in the iPhone 15 series and contributed to Apple’s highest-ever third-quarter operating profit.
However, Apple’s revenue in China fell by 2.5% in the quarter due to the recovery of Huawei and Honor, as well as the continuous improvement of profitability of other Chinese mobile phone manufacturers such as Xiaomi and OPPO.
Samsung attributed its average selling price to a 4% year-on-year increase due to the successful launch of the Galaxy Z Fold5 and Galaxy Z Flip5 foldable phones. In addition, the Galaxy S23 series continued to maintain growth momentum. Still, shipments fell 8% during the same period, offsetting average selling price growth and causing Samsung’s revenue to fall 4% year over year.
While OPPO focuses on higher-priced phones such as foldable phones (of which the OPPO Find N2 Flip is the best-selling phone in China), its slowed expansion outside China and India has led to a year-over-year decline in shipments, with OPPO in 2023 Smartphone revenue in the first three quarters was the lowest since the pandemic.
Vivo’s smartphone revenue fell 12% year-on-year, almost half of what it was in the third quarter of 2021.
Xiaomi was the only top-five smartphone brand to see shipment growth both quarter-on-quarter and year-on-year in the third quarter of 2023, benefiting from strong sales of the Redmi K and Note series, consolidating its position in key markets such as China and India, and achieving revenue and operating profit growth on a sequential and year-on-year basis.
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