Multiple in 5 smartphones offered in the course of the quarter belonged to the premium phase.
After a powerful second quarter final yr, vivo (together with iQOO) noticed a big decline in progress in China, in addition to sturdy competitors from Samsung and OPPO within the Indian and Southeast Asian offline markets.
The worldwide smartphone market is experiencing its eighth consecutive quarter of decline, falling by 8% (YoY) and 5% (QoQ) within the second quarter (Q2) of 2023, based on a brand new report. Tuesday.
In accordance with Counterpoint Analysis, Apple recorded the very best market share within the second quarter and got here in second with its share rising to 17%. “Apple has capitalized on this wave of ‘premiumization’ by attaining file shares in a bunch of recent markets that aren’t usually thought of its core markets.
A main instance is India, the place it grew by 50% (year-on-year) within the second quarter of 2023,” stated analysis analyst Ankit Malhotra. As well as, the report states that Samsung leads the market with a 22% market share. excessive efficiency of its Galaxy A sequence worldwide.
Xiaomi, the third-largest model, has confronted hurdles in its largest markets, China and India. The model hopes to make up for this decline by increasing into different markets and refreshing its portfolio. Regardless of shedding market share in Western Europe, OPPO carried out comparatively properly in its house markets of China and India (due to OnePlus).
After a powerful second quarter final yr, vivo (together with iQOO) noticed a big decline in progress in China, in addition to sturdy competitors from Samsung and OPPO within the Indian and Southeast Asian offline markets. As well as, the report mentions that the premium phase (wholesale $600 and up) stays resistant to broader restrictions because the mature shopper opts for a superior expertise, aided by the straightforward availability of financing choices in key geographies.
Multiple in 5 smartphones offered in the course of the quarter belonged to the premium phase.
“Gross sales declined throughout all areas of the world, however the largest declines have been seen in comparatively extra developed markets such because the US, Western Europe and Japan, all of which noticed double-digit annual declines. Markets in China, India, the Center East and Africa contracted comparatively much less,” Malhotra stated.
“We anticipate the market to get well slowly within the coming quarters,” he added.
(This story was not edited by the News18 employees and is revealed from a syndicated information outlet – IANS)
