Apple Dominates Q1 2023 Smartphone Market Amidst Decline in Shipment Volume
Apple Dominates Q1 2023 Smartphone Market Amidst Decline in Shipment Volume
Liputan6.com, Jakarta – The global smartphone market continues to contract, with shipments declining in the first quarter of 2023, according to Counterpoint’s latest Market Monitor report.
The volume of smartphone shipments fell 14 percent on an annual basis (Year over Year, YoY) and 7 percent on a quarterly basis (Quarter over Quarter, QoQ), with a total of 280.2 million units.
Senior Analyst, Harmeet Singh Walia, commented on the dynamics of the market saying, “Ships smartphones declined further in Q1 2023 after the weakest holiday season quarter since 2013, as a slower than expected recovery in China was marred by alarming bank failures on both sides of the Atlantic.”
This, according to Walia, further weakens consumer confidence in the face of endless market volatility.
In addition, some major brands are supplying fewer new devices to a market that is struggling with high inventories as consumers opt to upgrade less frequently, but with more durable smartphones when they buy.
As a result, global smartphone revenue and operating profit also declined, though not as much as shipments. This was partly due to Apple’s lower-than-usual drop in shipments, to 58 million units in Q1 2023.
Thus, Apple managed to capture almost half of all smartphone revenue. Meanwhile, Samsung’s shipments fell 19% YoY, despite growing 4% QoQ to 60.6 million units.
The launch of the Galaxy S23 series allowed Samsung’s Average Selling Point (ASP) to increase to USD340, an increase of 17% YoY and 35% QoQ, which in turn contributed to a relatively smaller decline in global revenue.
Apple Dominates Q1 2023 Smartphone Market Amidst Decline in Shipment Volume
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Apple Dominates Q1 2023 Smartphone Market Amidst Decline in Shipment Volume
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