Global smartphone sales have finally returned to growth after more than two years of decline, according to new data from Counterpoint Research. The industry saw a 5% increase in global monthly smartphone sales in October, breaking a streak of 27 consecutive months of negative year-on-year growth.
The growth was driven by a recovery in emerging markets, particularly in the Middle East and Africa, Huawei’s comeback in China, and the onset of the festive season in India. Huawei experienced a significant 37% surge in smartphone sales in China in the third quarter, with the Mate 60 series phones proving to be highly popular among consumers.
In developed markets, the recovery has been slower, but the launch of Apple’s iPhone 15 series has also contributed to the growth. The report attributes the late launch of the iPhone 15 series compared to last year as another factor driving the growth, with the new iPhone sales having a full impact in October this year due to a one-week delay.
Despite the challenges faced by the smartphone industry in recent years, including supply chain disruptions and inventory build-up, the report is optimistic about the market’s path to recovery. There is an expectation of continued year-on-year market expansion in the fourth quarter of 2023, indicating a gradual recovery for the market in the coming quarters.
The news of the industry’s rebound comes after only one major smartphone manufacturer, Xiaomi, managed to increase its shipments year-over-year during Q3 in 2023. This marks a significant turning point for the global smartphone market and provides hope for the industry’s future growth.