Overview: T-Mobile posted industry leading postpaid net adds yet again. Meanwhile, dwindling upgrade rates contributed to 6% lower equipment revenue YoY. T-Mobile’s postpaid focus remains on driving up ARPA which grew 2% YoY. It does not see a need to invest in driving upgrade rates higher with growing service revenues. The prepaid phone segment performed well with prepaid net adds up 112% YoY. Prepaid momentum should continue with the close of the acquisition of Mint Mobile and Ultra Mobile on the horizon. FWA subscriber growth is normalizing with net adds remaining in the mid-500,000s for the seventh quarter in a row.
Overview: AT&T posted 526,000 net adds in Q4. This marked the second quarter in a row of net add growth after four consecutive quarters of declining net adds. Upgrade rates were weak for all three major carriers, but AT&T showed the least decline in postpaid upgrade rates. This resulted in relatively flat postpaid smartphone sales for AT&T YoY. AT&T’s Internet Air FWA service is picking up steam with 93,000 subscribers at the end of Q4. The service is seen as more of a catch product to halt the exit of legacy wireline subscribers where fiber is not yet available.
Counterpoint’s Macro Index improves again in Q4, rising to 86.17 from 80.99 in September. The three-month and twelve-month outlooks have also been bumped up, reflecting better conditions for the global tech industry.
This uptick can be attributed to improved economic indicators across most major economies, mainly due to lower inflation, leading to the conclusion by markets that the current round of interest rate hikes has ended. However, China remains an outlier, which is still grappling with deflationary pressures.
The Q3 2023 tech earnings season was positive overall, as consumers remained fairly resilient, while tech spending, especially on AI, showed tremendous momentum. A much-improved outlook for 2024 and excitement around AI drove US tech stocks close to an all-time high.
In this first instalment of the report series, we discuss the key findings in segments including e-commerce, consumer spending, streaming, US internet and AI. We seek to uncover the underlying driver that impacted company earnings, different sentiments and cycles across tech stacks, and common and idiosyncratic themes. We also review the overall macro environment and what it bodes for the tech sector in the next quarter.
Table of Contents:
Verticals, Companies and Themes Discussed
Macro Review – Where we are in the tech cycle
Macro Review – Macroeconomic and consumer indicators are rebounding off a bottom
Consumer – Feeling squeezed
Consumer – Divergence in spending demographics and patterns
Content – Winners get ahead as consumers scrutinize value of offerings
Consumer Internet – Turning a corner, with AI powering future gains
This report compiles all our automotive-related press releases and blogs published during Q4 2023. It provides you with data, insights, and a deeper look into what our analysts were thinking about during the quarter.
Table of Contents:
Global BEV Sales: China Players Surge Ahead, Despite Roadblocks
Global Passenger Electric Vehicle Market Share, Q4 2021 – Q3 2023
HERE Directions 2023: UniMap Powering New Era of Location Experiences Enabling Deeper Partner & Customer Relationships
Automotive USA 2023: Day 1 Highlights and Industry Insights
All Charged Up: EV Battery Sales Soar 54% YoY in H1, CATL Leads
SoftBank’s Investment to Drive Mapbox’s AI-based Map, Location Services
Japan Advances Into EV Market Slowly but Surely as Domestic OEMs Join Late
This report compiles all our smartphone-related press releases and blogs published during Q4 2023. It provides you with data, insights and deeper look into what our analysts were thinking about during the quarter.
Table of Contents:
Infographic: Q3-2023 | Smartphones | Mobile Market Monitor
Premiumization, Technological Advances Drive Growth in Global Wireless Charging Smartphone Market
TECNO’s Premiumization and Regional Expansion Drives Transsion’s Best Quarter Ever
2023 Global Smartphone Shipments to Hit Lowest Level in Almost a Decade
South Africa’s Smartphone Market Grows 73% YoY in Q3 2023 to Reach Highest Since 2021
Singles Day Growth Boosts Odds of China Market Smartphone Recovery in Q4 2023
Samsung Smartphones to Dominate 42 Countries in 2023 vs 46 in 2022
Nearly Two-thirds of High-end Smartphone Users in China are Open to Foldables: Survey
Colombia’s Smartphone Shipment Down 13% YoY in Year’s Best Quarter
October Global Smartphone Sales Break Two-Year Losing Streak, Path Set for Gradual Recovery
MEA Smartphone Shipments Grow Fastest Among All Regions in Q3
Europe Smartphone Shipments Decline 11% YoY in Q3 2023, Recovery Looks Distant
Bangladesh Smartphone Shipments May See Highest-ever Annual Decline in 2023, Modest Growth Expected in 2024
Canada Smartphone Sales Down 4% YoY as Consumers Tighten Purse Strings Amid Tough Macroeconomic Environment
LATAM Smartphone Shipments Swing to Double-digit Growth in Q3 2023 to End Four-Quarter Decline Streak
Latest China Weekly Smartphone Sales Signals Market Recovery, Huawei Rally
Premium Segment Bucks Overall Global Smartphone Market’s Trend in Q3 2023, Records Highest Q3 Volumes Share Ever
MediaTek Strengthens Premium Push With Gen AI Capabilities
TECNO, Infinix, Apple Fastest-growing Smartphone Brands in Southeast Asia
BoM Analysis: iPhone 15 Pro Max Costs $37.7 More Than iPhone 14 Pro Max
Xiaomi’s New Smartphones, OS Back ‘Human X Car X Home’ Strategy
Qualcomm Guides Recovery in Handset Market, Channel Inventory Improving
Podcast #71: Key Takeaways from Qualcomm Snapdragon Summit 2023
Apple Records its Highest-Ever Sep-Q3 iPhone Revenue and Revenue Share
Qualcomm Snapdragon X Elite Unveiled: ARM-based SoC for Windows-powered AI PCs
US Smartphone Shipments Decline 19% YoY in Q3 2023 as More Americans Delay Smartphone Upgrade
MediaTek’s Q3 2023 Revenue Up 9% QoQ as Inventory Levels Normalize
Mobile Operators to Invest Over $30 Billion in Open RAN Networks by 2030
Apple Sees Highest Ever Smartphone Shipments in India in Q3 2023; Market Records Flat YoY Growth
Qualcomm Snapdragon 8 Gen 3 Unveiled: On-Device Generative AI Takes Center Stage
Q3 2023 China Smartphone Sales Fall 3% Signaling Recovery Getting Closer
Global Smartphone CIS Shipments Fall 14% YoY in H1, to Reach 4.2 Bn Units in 2023
OnePlus Launches Its First Book-type Foldable – The OnePlus Open
Early Look iPhone Numbers Show Waning China vs Vibrant US
Global Smartphone Market Reaches its Lowest Q3 Levels in a Decade; Apple’s Share at 16%
OPPO Find N3 Boasts Flagship-level Specs, Productive Software Features
Software Announcements Take Center Stage at Google Pixel 8 Series Launch Event
3GPP 5G NTN Standards Set To Dramatically Boost Mobile Satellite Addressable Market
Smartphone ODM Shipments Decline Only 6% YoY in H1 Amid Overall Market’s 12% YoY Fall
Xiaomi’s strong Singles’ Day sales propel it to second place, highlighting Mi 14 series success in the mid-range market. Adapting to changing consumer priorities is crucial amid intense competition in the Chinese smartphone landscape.
Table of Contents:
Xiaomi Made Significant Progress During Single’s Day Promotion Period
In Q3 2023, the global foundry industry witnessed a clear hierarchy in market share. TSMC dominated the landscape with an impressive 59% market share driven by N3 ramp-up and smartphone restocking demand. At the second position was Samsung Foundry with a 13% share. UMC, GlobalFoundries and SMIC had similar market shares with each contributing around 6%. TSMC’s significant lead underscored its technological prowess and market leadership, setting the tone for the industry’s trajectory in Q3 2023. However, some mature node foundries such as UMC started to face headwinds in Q3 2023 due to muted LDDIC and PMIC demand.
Foundry Industry Share by Technology Node
In Q3 2023, the market was prominently led by the 5/4nm segment, which had a 23% share. This dominance resulted from strong demand, particularly from AI and iPhone. The 7/6nm segment’s market share remained steady, showing early signs of order recovery in the smartphone market. On the other hand, the 28/22nm segment encountered challenges due to inventory corrections in networking applications, while the 65/55nm segment experienced a downturn due to decreasing demand in automotive applications.
MediaTek dominated the smartphone SoC market in Q3 2023 with a share of 33%. MediaTek’s shipments increased in Q3 2023 as the inventory levels came down. New smartphone launches in the low- and mid-end segments have increased the shipments in the Dimensity 7000 series. MediaTek also refreshed the Dimensity 9300 with Gen AI capabilities. Qualcomm captured a 28% share during the quarter. Qualcomm’s shipments increased sequentially in Q3 2023 due to the high shipments for the Snapdragon 695 and Snapdragon 8 Gen 2 chipsets. Also, key design wins for the Snapdragon 8 Gen 2 in the Samsung Galaxy Fold/Flip series contributed to this growth.
Global Smartphone AP Share by Revenue
Qualcomm dominated the AP market in Q3 2023 with a 40% revenue share. The premium segment drove the brand’s growth due to the adoption of Snapdragon 8 Gen 2 in Samsung’s flagship smartphones and by Chinese OEMs. Apple had a 31% share in the AP SoC market in Q3 2023 in terms of revenue. Apple’s share increased by 23% QoQ due to the launch of the iPhone 15 and iPhone 15 Pro series. MediaTek captured the third position with a share of 15% in the total global smartphone AP/SoC revenues. MediaTek’s revenue increased QoQ in Q3 2023 as the inventory levels came down while the competition in the entry-level 5G segment continued to grow.
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