Smartphone Shipments in Europe Decline in Q3 2023
According to a recent report by Counterpoint Research for Market Monitor Service, smartphone shipments in Europe experienced an 11% year-on-year decline in the third quarter of 2023. This decline aligns with the global trend of decreasing smartphone shipments. Major players in the industry, including Samsung and Apple, faced their worst quarters since 2011 and 2014, respectively.
Decline in Western and Eastern Europe
The report reveals that the demand for smartphones in Western Europe dropped by 8%, while Eastern Europe experienced an even steeper decline of 15%. The primary factors contributing to this slump in sales are the ongoing economic challenges and geopolitical issues in the region.
Market Share of Leading OEMs
Despite the overall decline in shipments, Samsung managed to maintain its position as the market leader with a 32% market share. Apple followed closely with a 24% market share, while Realme secured a 22% market share. Honor, which has seen an 8% growth compared to the previous year, claimed a 4% market share.
Chinese OEMs Making an Impact
Research Analyst Harshit Rastogi commented on the statistics, stating that although Q3 2023 witnessed the lowest Q3 smartphone shipments since 2011, certain OEMs have managed to establish a foothold in the market. Chinese brands such as TECNO and Infinix, particularly in Russia, have gained traction. Additionally, Honor is performing well in Western Europe. While the market shares of the top players remain unchanged, Chinese OEMs are reshuffling their ranks among themselves.
Outlook for Key Players
Samsung's position in the market remains strong due to the demand for its foldable smartphones. Apple is expected to boost its sales in the coming quarter with the release of the iPhone 15 series. However, Xiaomi is facing backlash from some Western European countries due to its presence in the Russian market, resulting in a 13% decline in its market share. Oppo is also losing ground in Europe due to various issues. Surprisingly, Honor, TECNO, and Infinix have experienced remarkable growth compared to the previous year.
Optimism Amidst Challenges
Associate Director Jan Stryjak expressed cautious optimism, stating that while the market decline continues, significant launches like the iPhone 15 series and Samsung's fifth-generation foldable devices have softened the blow. Although a return to growth is not expected in the near future, the fourth quarter of the year shows promise for a strong finish. However, economic conditions remain challenging, leading consumers to hold onto their devices for longer periods. As a result, the smartphone market in Europe is expected to remain subdued for the foreseeable future.
Uncertain Future for European Smartphone Market
The future growth prospects for the European smartphone market appear uncertain at this time. The ongoing economic and geopolitical challenges, coupled with the prolonged device usage by consumers, present obstacles for a significant rebound in the near future.
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