Top Five Smartphone Brands in Q2 2023 - Canalys Report Highlights Market Trends

Canalys, in its latest research, has reported a 10% decline in the global smartphone market, with a total of 258.2 million units shipped in Q2 2023. However, this decline shows signs of slowing down, thanks to industry-wide inventory reductions and recovery in specific regional markets.

Apple, Apple iPhone 14 Plus, Top Smartphone Brands Q2 2023
Apple was able to ship 43 Million units in Q2 2023, making it the Top 2 Best-Selling Smartphone Brand in the said quarter.

Securing the top position, Samsung shipped 53.0 million units, while Apple retained the second spot with 43.0 million units and a 17% market share. Xiaomi, with 33.2 million units shipped and normalized inventory levels, ranked third. OPPO, including OnePlus, maintained its presence at number four with a 10% market share. Notably, the Transsion Group, encompassing Tecno, Infinix, and iTel brands, made an impressive entry into the top five for the first time, shipping 22.7 million units and experiencing 22% annual growth. Their success was attributed to their expansion into the African and other emerging markets, coupled with recovery opportunities in those regions.

Top Smartphone Brands Q2 2023

Canalys analysts have provided insights into the strategies of major players in the market. Samsung's conservative approach amidst profitability pressure and slow semiconductor industry recovery resulted in their lowest Q2 performance since 2013. However, with the launch of the Galaxy Z Flip and Fold models, Samsung aims to compete with Apple in the luxury market, laying the groundwork for potential recovery in the coming months.

Transsion's rapid capture of low-end demand in the Middle East and African markets, supported by stabilizing foreign exchange and expansion into Latin America, contributed to their strong performance.

Regional markets have shown varying paces of recovery, with the Middle East and Southeast Asian markets experiencing significant vendor investments and recovering consumer demand. Latin America, on the other hand, demonstrated steady shipment recovery as vendors penetrated open channels, putting pressure on leading operators with core subscription businesses.

Looking ahead, Canalys anticipates a moderate decline in the global smartphone market in 2023. Increased component prices and reduced channel inventory levels have warmed up the smartphone supply chain in the first half of the year. 

Emerging vendors with agility and openness to new market opportunities are expected to thrive in the healthier business environment in the second half of the year. Balancing short-term market spikes and long-term structural changes will be key for companies to emerge strong from this round of downcycle.

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