Apple leads in Q2 amid smartphone market dip by 8%

NEW DELHI: The global smartphone market experienced an eighth consecutive quarter of decline, falling by 8 per cent (year-on-year) and 5 per cent (quarter-on-quarter) in the second quarter (Q2) of 2023, a new report showed on Tuesday.

According to Counterpoint Research, Apple recorded the highest-ever Q2 market share and came second with its share growing to 17 per cent. “Apple is riding this ‘premiumisation’ wave, reaching record shares in multiple new markets which are typically not considered its core markets.

A prime example is India, where it grew 50 per cent (year-on-year) in Q2 2023,” said Research Analyst Ankit Malhotra. Moreover, the report said Samsung led the market with a 22 per cent market share, benefitting from the strong performance of its Galaxy A-series globally.

Xiaomi, the third-largest brand, faced headwinds in its biggest markets - China and India. The brand is looking to offset such declines with expansion in other markets and by refreshing its portfolio. Despite losing market share in Western Europe, OPPO performed relatively well in its home markets of China and India (owing to OnePlus).

After a strong Q2 last year, vivo (including iQOO) saw significant growth declines in China, as well as strong competition from Samsung and OPPO in the offline markets of India and Southeast Asia. Further, the report mentioned the premium segment ($600+ wholesale price) remains immune to broader constraints, as the mature consumer chooses a superior experience, aided by the easy availability of finance options across key geographies.

More than one out of five smartphones sold during the quarter belonged to the premium segment.