Press releases Archives - Page 9 of 97

Cumulative 5G Smartphone Shipments Cross 2-Billion Mark

Nearly 70% of all 5G shipments came from developed smartphone markets.
Apple and Samsung were the top 5G smartphone brands, shipping over 1 billion 5G smartphones cumulatively.
The launch of the iPhone 12 series, the first 5G-capable iPhones, significantly accelerated 5G adoption.

Seoul, Beijing, Boston, Buenos Aires, Fort Collins, Hong Kong, London, New Delhi – February 23, 2024

Global cumulative shipments of 5G smartphones surpassed 2 billion units in Q4 2023, according to Counterpoint Research’s Global Market Monitor Service. This milestone was achieved in less than five years, the shortest period when compared to previous technologies like 4G or 3G. It took 4G smartphones six years to reach this mark. Nearly 70% of all 5G shipments came from developed smartphone markets such as China, US and Western Europe. Apple and Samsung were the top 5G smartphone brands, shipping over 1 billion units cumulatively.

Smartphone brands have heavily promoted 5G capabilities and features while differentiating their offerings in a highly competitive market. The launch of the iPhone 12 series, the first 5G-capable iPhones, significantly accelerated 5G adoption, taking global 5G shipments to above 100 million units in a single quarter for the first time in Q4 2020. The momentum continued and the shipments hit a new record in Q4 2023, reaching 200 million units in a single quarter.

The affordability and accessibility of 5G smartphones have improved due to the narrowing price gap between 5G and 4G chipsets, along with strategic component selection by OEMs to maintain the bill of materials (BOM) cost. Besides, chipset players such as MediaTek and Qualcomm have helped smartphone OEMs to offer affordable 5G phones by launching entry-level 5G chipsets. All this has allowed OEMs, especially Chinese brands, to offer a wider 5G smartphone portfolio, particularly in mid and mid-to-high segments. Even in markets where 5G networks are not fully operational, consumers opt for 5G smartphones to future-proof their investment.

Developed markets are nearing saturation, with the contribution of 5G smartphones to the total shipments crossing 80% in 2023 led by the premium segment. Therefore, major smartphone players are introducing 5G capability as a common feature in their mid-range devices while introducing it in affordable segments. Further, there is higher consumer awareness and demand for 5G as a feature in the developing world where telecom operators too are expanding 5G coverage. 5G smartphones are equipped with all the necessary elements to penetrate the affordable segments of emerging markets. Therefore, emerging markets like India and Southeast Asia will drive the momentum for the next billion of 5G smartphone shipments.

Background

Counterpoint Technology Market Research is a global research firm specializing in products in the TMT (technology, media and telecom) industry. It services major technology and financial firms with a mix of monthly reports, customized projects and detailed analyses of the mobile and technology markets. Its key analysts are seasoned experts in the high-tech industry.

Follow Counterpoint Research

press(at)counterpointresearch.com

G+D, Thales, Idemia Pacesetters in 2023 eSIM Enablement Rankings

Close to half a billion eSIM-capable devices were shipped in 2023, making it the best year for the ecosystem.
G+D, Thales and IDEMIA emerged as ‘Pacesetters’ in eSIM enablement, excelling in ability and execution.
Kigen, VALID and RedTea Mobile were recognized as ‘Leaders’, while Eastcompeace, WORKZ and Oasis Smart SIM were seen as ‘Challengers’.

Seoul, Beijing, Boston, Buenos Aires, Fort Collins, Hong Kong, London, New Delhi – February 22, 2024

G+D, Thales and Idemia have emerged as ‘Pacesetters’ in Counterpoint Research’s Global eSIM Enablement CORE (COmpetitive Ranking and Evaluation) report for 2023.

Senior Research Analyst Ankit Malhotra said, “The global eSIM landscape continued to expand rapidly in 2023, after reaching an inflection point in 2022. Close to half a billion eSIM-capable devices were shipped in 2023. Operator support for eSIM also continued to grow and now more than 350 operators globally support eSIM. Consumer eSIM devices showed maximum growth while the number of IoT-M2M devices (including automotive) with eSIM support remained stable as the industry awaits implementation of SGP.31/32 standards.”

Malhotra added, “We have analyzed and evaluated key companies in the eSIM value chain using our proprietary CORE framework, which maps active players according to their capabilities and success in execution. The ‘capability’ parameter covers criteria such as firmware, compliance, interoperability and supply chain prowess, while the ‘ecosystem’ parameter covers geographical reach, partnerships and market share.”

Commenting on the research findings, Associate Director Mohit Agarwal said, “G+D, Thales and Idemia have emerged as pacesetters in our eSIM enablement rankings. The pacesetters have better all-round capabilities and lead in terms of execution, helping them achieve significant market share compared to others. G+D led the way in terms of consumer shipments, with its solution seen in Apple’s iPhones, including the eSIM-only iPhone 14 and 15. Thales led the shipments in the automotive space while no significant difference was seen among the pacesetters in the IoT/M2M space.”

Kigen, VALID and RedTea Mobile have been named as ‘Leaders’ as, along with great platform capabilities, they have managed to pull ahead of others in terms of execution in the marketplace. Kigen, one of the fastest-growing leaders, stood out for its iSIM solution and expertise in the IoT market. It is now augmenting its portfolio with consumer solutions as well. VALID, one of the incumbents, is also moving quickly and growing fast in consumer and automotive categories.

Eastcompeace, WORKZ and Oasis Smart SIM emerged as ‘Challengers’. Eastcompeace and WORKZ were the most improved players in 2023. Oasis Smart SIM is well-positioned with a strong platform and is expected to move strongly after the acquisition by TATA Communications. These players have excellent features and capabilities and as they grow their market presence, they are likely to graduate to ‘Leaders’ of tomorrow as the market for eSIM devices continues to grow.

Counterpoint Research’s Global eSIM Landscape report is the most comprehensive report on the topic and covers all the leading players in the ecosystem with multiple interviews and research spanning more than three months.

The comprehensive and in-depth ‘Global eSIM Landscape Report, 2023’ is available for subscribing clients. Please contact Counterpoint Research to gain access to the report.

Background

Counterpoint Technology Market Research is a global research firm specializing in products in the TMT (technology, media and telecom) industry. It services major technology and financial firms with a mix of monthly reports, customized projects, and detailed analyses of the mobile and technology markets. Its key analysts are seasoned experts in the high-tech industry.

Follow Counterpoint Research

press(at)counterpointresearch.com

US Smartphone Sales Fall 10% YoY in Jan to Reach Almost Half of 2017 Peak

Weak low-end Android sales impacted the overall US market’s growth.
Apple was the best performer among key OEMs but still saw YoY declines.
February could be stronger with Samsung’s Galaxy S24 launch likely to bring new competition.

San Diego, Boston, Fort Collins, Beijing, Buenos Aires, Hong Kong, London, New Delhi, Seoul – February 22, 2024

US smartphone sales declined 10% YoY in January, according to preliminary data from Counterpoint Research’s 2024 US Weekly Sell-through Tracker. This declining trend was mainly driven by the underperformance of low-end segments. The premium and ultra-premium segments performed better but overall upgrade rates remained tepid.

“Tough times in the volume-driven low end coupled with delayed upgrades in anticipation of new products drove the market lower,” said Senior Analyst Maurice Klaehne, adding, “But we are likely to see a rebound in February, especially as the Galaxy S24 series becomes available.”

Source: Counterpoint Research US Weekly Smartphone Tracker

Apple outperformed most brands with its iPhone continuing to gain share, though its sales were also down low single digits. “We continue to see strong promotions for the iPhone 15 series in postpaid, while there remains significant interest in older models like the iPhone 11 and iPhone 12 among cost-conscious consumers in prepaid. This combination is enabling Apple to maintain stability in a market experiencing double-digit declines,” observed Research Director Jeff Fieldhack, adding, “This is good for share gains and great for the iOS installed base.”

Background

Follow Counterpoint Research

press(at)counterpointresearch.com

In a First, Apple Captures Top 7 Spots in Global List of Top 10 Best-selling Smartphones

The combined market share of the top 10 smartphones in 2023 reached the highest ever at 20%, up from 19% in 2022.
Apple’s iPhone 14 was the best-selling smartphone of 2023 and the iPhone 15 Pro Max was the best-selling smartphone of Q4 2023.
Apple and Samsung were the only brands in the top-10 list.

Seoul, Beijing, Boston, Buenos Aires, Fort Collins, Hong Kong, London, New Delhi – February 21, 2024

Apple, for the first time, captured the top seven positions in the global list of best-selling smartphones in 2023, according to Counterpoint Research’s Global Monthly Handset Model Sales Tracker. Samsung secured the remaining three places in the list, marking an increase of one spot from the 2022 list. There have been no other brands on the list since 2021. The combined market share of the top 10 smartphones reached the highest ever at 20% in 2023, up from 19% in 2022.

Apple’s iPhone 14 was the best-selling smartphone of 2023, with the US and China making up half of its sales. Further, the model contributed 19% of the total iPhone sales for 2023, down from the 2022 bestseller iPhone 13’s 28% share. Limited differentiation between the iPhone 13 and iPhone 14 led to lower adoption of the base variant and increased sales of the iPhone Pro variants, which offer substantial upgrades like Dynamic Island, a more advanced chipset and a higher display refresh rate. The iPhone 15 series took the top three spots on the global bestseller list for Q4 2023, with the iPhone 15 Pro Max becoming the best-selling smartphone.

Apple’s total sales remained flat in 2023 even as major competitors declined. This stability was partly due to a significant boost from emerging markets like India and the Middle East and Africa (MEA). In 2023, India became the fifth smartphone market to exceed 10 million iPhone unit sales in a single year, highlighting the market’s growing importance for Apple. These factors contributed to the iPhone 15 series sales matching the performance of the iPhone 14 series in 2022.

Apple’s iPhone 13, the oldest model on the list, maintained its fourth position with double-digit YoY volume growth in Japan and India. Carrier promotions in Japan drove sales of older iPhones over the newer generation, while in India, the iPhone 13’s value proposition made it a popular choice.

Samsung’s budget A series captured three spots in the top-10 list due to its strong value proposition and presence across various geographies and customer categories. The Samsung Galaxy A14 5G secured eighth place driven by high sales in the US and India. Notably, it was the best-selling smartphone in India for 2023. The only LTE-capable smartphones in the list, the Samsung Galaxy A04e and A14 4G secured the remaining two places thanks to their affordability driving sales in emerging markets like Brazil, India, Mexico and Indonesia.

We expect 2024’s top 10 best-selling smartphones to represent a larger proportion of total smartphone sales as OEMs are focusing on leaner portfolios. Further, we expect Chinese brands to enter the list. And with OEMs increasingly launching 5G-only models, 2024’s top 10 will likely be 5G-only.

Background

Follow Counterpoint Research

press(at)counterpointresearch.com

2.2 Billion IoT Connections Expected to be on eSIM by 2030

IoT eSIM connections are expected to grow 43% annually between 2023 and 2030.
New GSMA standards for IoT eSIM are expected to accelerate the adoption of eSIM in IoT as constrained devices benefit from new standards.
China lags in eSIM adoption despite being the largest IoT market in terms of connections.

Seoul, Beijing, Boston, Buenos Aires, Fort Collins, Hong Kong, London, New Delhi – Feb 20, 2024

IoT connections on eSIM are expected to grow at a rapid pace of 43% annually to reach 2.2 billion by 2030, according to a recent report released by Counterpoint Research on the IoT connectivity landscape. By 2030, almost a third of the IoT connections will be on eSIM or iSIM.

Commenting on the current state of IoT eSIM connections, Associate Director Mohit Agrawal said, “eSIM growth in IoT has lagged behind that in consumer space due to the restrictive M2M eSIM specifications. As a result, at the end of 2023, there were a little less than 200 million eSIM connections in the IoT space despite the excellent product-market fit.”

Agrawal added, “China, the world’s largest IoT market, has low single-digit eSIM penetration due to restrictive regulations around eSIM in the past and the high proportion of LPWA devices which currently do not support eSIM. The eSIM penetration in the rest of the world is much higher than in China but the large IoT base in China brings the overall global eSIM penetration to less than 10%.”

Commenting on the eSIM forecast, Senior Research Analyst Ankit Malhotra said, “The new GSMA standards for IoT eSIM (SGD.31/32) are expected to bring the eSIM to constrained devices, which is likely to massively push the growth in eSIM and later iSIM. eSIM vendors and IoT connectivity providers have multiple proof of concepts on the new IoT eSIM standards and the big push is likely to happen next year after the test specifications are released by GSMA later this year. The early adopters of eSIM in IoT have been mostly automotive customers as the enterprises have not really been able to change the connectivity provider at will”

The comprehensive and in-depth ‘IoT Connectivity Landscape’ report and the ‘Connectivity Management Platform Rankings’ report are now available. Please contact Counterpoint Research to gain access to the reports.

Background

Counterpoint Technology Market Research is a global research firm specializing in products in the TMT (technology, media and telecom) industry. It services major technology and financial firms with a mix of monthly reports, customized projects, and detailed analyses of the mobile and technology markets. Its key analysts are seasoned experts in the high-tech industry.

LATAM Smartphone Market Down 3% YoY in 2023, But Set for Growth as Competition Rises

Counterpoint expects the region’s smartphone TAM to see low-single-digit percentage growth in 2024.
Smartphone shipments up 4.2% YoY in Q4 2023, the region’s second consecutive quarterly rise.
Samsung retains first rank with a 30.5% share in Q4 2023, down from 39.2% in Q4 2022.
Apple marks its best quarter with a 7.7% market share
HONOR made it to the fifth spot in Q4 2023, with a 4.6% share, its highest-ever.

Buenos Aires, San Diego, Boston, London, New Delhi, Beijing, Hong Kong, Seoul – February 15, 2024

LATAM smartphone shipments fell 3.3% YoY to reach 119 million units in 2023, according to Counterpoint’s latest Market Monitor research. Despite the region’s strong shipment growth in H2 2023, driven by fierce competition among Chinese OEMs and upgrades from Apple, the annual numbers were constrained by the double-digit percentage shipment decline recorded in H1 2023.

Commenting on the market dynamics, Senior Research Analyst Tina Lu said, “An aged installed base and an abundance of promotions stemming from fierce competition among OEMs led to YoY growth in sales. The length of the promotions was also longer in Q4 2023 versus the year-ago period. It started at the beginning of November 2023 and continued until the second week of January 2024. Geographically, Brazil and smaller markets like Central America and Venezuela saw the biggest growth. Venezuela has seen an increase in the inflow of US dollars after the US softened its sanctions on the country, which has boosted smartphone consumption. However, 5G is still not a major driver for replacement in the market. Nonetheless, in 2024 many LATAM countries will be launching 5G networks with dedicated spectrum which should drive the growth of this technology in the region. However, its share might still not surpass that of the 4G smartphone segment.”

Source: Counterpoint Research Market Monitor, Q4 2023

Commenting on the performance of OEMs, Research Analyst Andres Silva said, “Samsung’s shipments decreased throughout 2023 partly because it started the year with inventory carried over from 2022. Although it is still the absolute leader in some markets, like Peru, the brand is losing its leadership position in many others. Xiaomi had the highest YoY share growth in the region among all brands. Brazil, Peru, Venezuela, and other smaller countries in the region were leading this growth. However, Xiaomi still lagged in most other markets, especially Mexico. Meanwhile, Apple continued to grow in most markets in the region. In Q4 2023, Apple recorded its highest-ever quarterly volume helped by Mexico, its biggest market in the region. The shipment of the older Apple models, namely the iPhone 11 to iPhone 14 devices, did not decline even after the launch of the iPhone 15 series.“

Source: Counterpoint Research Market Monitor, Q4 2023

Insights on Other Brands:

Motorola gained share in 2023. However, its share in Brazil declined during Q4 2023 due to Xiaomi’s growth.
HONOR saw the highest YoY growth in the region. Its volume more than quadrupled YoY. However, on a QoQ basis, it grew only marginally. In Peru, HONOR lost its second position to Samsung by a small margin.
OPPO was the third biggest brand in Mexico in 2023 and is now slowly growing in other LATAM markets as well. OPPO was the region’s fifth-biggest OEM in 2023. Its performance lagged behind HONOR in Q4 2023.

Counterpoint expects the region’s smartphone TAM to see a low-single-digit percentage increase in 2024. Most LATAM markets will likely grow during 2024, except Argentina, which will continue to decrease due to the persisting severe macroeconomic crisis in the country. Chinese brands will increase their competitive intensity in 2024 and squeeze share from more established brands like Motorola and even Xiaomi.

Background

Counterpoint Technology Market Research is a global research firm specializing in products in the technology, media, and telecom (TMT) industry. It services major technology and financial firms with a mix of monthly reports, customized projects, and detailed analyses of the mobile and technology markets. Its key analysts are seasoned experts in the high-tech industry.

Survey: realme Scores High Among Indonesia’s Young Smartphone Consumers

According to the survey, “Brand for the young” and Young people’s choice” were the primary associated values for realme in the 18-30 age group.
“Brand for the young” is more about the functional benefit they can get from realme, which translates into good specifications at an affordable price.
“Young people’s choice” expresses more the emotional aspect, such as adapting to current trends, but at a price that young people can pay.
Camera was an important consideration for the survey respondents when buying a smartphone.

Jakarta, London, San Diego, New Delhi, Beijing, Buenos Aires, Seoul, Hong Kong – February 8, 2024

Smartphones have been increasingly used by Indonesians as an online platform interface for undertaking daily activities and interacting with others. The country’s youth segment (18-30 years old) is among the most active smartphone users and considers the device as part of their lifestyle. The features, specifications, technology and value for money are big concerns for this demographic when buying a smartphone. This generation also tends to avoid the FOMO (fear of missing out) trap and hunts for smartphone brands that continue to innovate and follow trends.

Against this backdrop, Counterpoint Research conducted a consumer survey among more than 1,000 people in Tier 1 and Tier 2 cities of Indonesia to find out how the country’s young generation perceives smartphone brands when it comes to meeting their requirements. A qualitative survey followed by an online survey was performed to collect insights from smartphone owners in the 18-30 age group who had been using smartphones for more than three months.

According to the survey, realme can be described as a youth-focused brand. The survey attributes two primary associated values to realme as a smartphone brand – “brand for the young” and “young people’s choice”. “Brand for the young” is more about the functional benefit Indonesia’s young generation can get from realme, which translates into good specifications at an affordable price. “Young people’s choice” expresses more the emotional aspect, such as adapting to current trends, but at a price that young people can pay.

“Brand for the young” is predominantly linked with realme by individuals in the 22-24 and 25-27 age groups, while “young people’s choice” resonates most with those in the 18-21 age group. The two associated values go well with the 28-30 age group.

Source: Counterpoint Research’s ‘Exploring Associated Values of Smartphone Brand Among Youth’ consumer study

Commenting on realme’s associated values, Senior Analyst Febriman Abdillah said, “With these associated values, realme can strengthen its appeal among young people, who need a trendy and stylish smartphone with the latest features at an affordable price. The young generation is looking for technology that can make its activities easier, while also looking for ways to not be left behind. We see realme is bringing more of the latest technology trends into its smartphone, such as a camera system with trendy rear camera design, fast charging, NFC including stylish smartphone design that suits the needs of young people.”

This survey was conducted in partnership, to understand how the country’s young generation perceives smartphone brands when it comes to meeting their requirements.

Background

Follow Counterpoint Research

press(at)counterpointresearch.com

India Smartwatch Market Sees Record Shipments in 2023 With 50% YoY Growth

With a 30% share, Fire-Boltt took the top spot in 2023, driven by the widest portfolio among all OEMs.
Noise and boAt captured second and third spots with 25% and 17% shares respectively.
The top five brands’ share was the highest ever at 81%, indicating a growing but consolidating market.
Fastrack and Boult entered the top five for the first time.
54% market was under the retail price band of INR 2,000, which registered over 3x growth.

New Delhi, Beijing, Boston, Buenos Aires, Hong Kong, London, San Diego, Seoul – February 7, 2024

India’s smartwatch shipments grew 50% YoY in 2023, according to the latest research from Counterpoint’s IoT Service. This growth was driven by the rising penetration of smartwatches, proliferation of low-cost devices to target first-time users, and enhanced efforts by Indian brands through extensive marketing and distribution, promotions and local manufacturing. In addition, there is growing awareness and interest among customers to track their health vitals, utilize the device as a style statement, or leverage it for gifting purposes.

Commenting on the market dynamics, Research Analyst Harshit Rastogi said, “The market saw over 125 active smartwatch brands in 2023 even as it started moving towards consolidation. The combined share of the top five brands reached the highest ever at 81%. In addition, growth of emerging players like Fastrack, Boult and BeatXP led to further consolidation of the market. The product portfolio of the top players expanded quite a lot compared to 2022 to cater to different customer segments. Moreover, the market is now further skewed towards the lower price bands with 54% of the shipments in 2023 coming under the INR 2,000 retail price band, up from 26% in 2022.”

Commenting on the outlook, Senior Research Analyst Anshika Jain said, “While the market continues to register high growth rates, we are seeing some stabilisation, signaling wider adoption. The quarterly growth rates have come down from triple to double digits. We expect the market to grow 23% YoY in 2024. With the introduction of new features like cellular connectivity, high-level OS (HLOS) and better displays, the market is likely to sustain growth. We are now observing that OEMs are tapping into new emerging markets like Southeast Asia and the Middle East and foraying into other wearable categories like smart rings to accentuate their presence in the market.”

Market Summary

Fire-Boltt led the market with a 30% share. The brand maintained its focus on offering a wide SKU portfolio and a strong offline presence.
Noise (along with sub-brand Alt) captured the second spot with a 26% market share. The Noise Colorfit Icon 2 and Colorfit Icon Buzz were the best-selling smartwatches in 2023. The brand expanded its retail presence in 2023 and also expanded its portfolio in the kids smartwatch category.
boAt (with sub-brands TAGG and Defy) maintained its third spot in the market with a 17% share and 40% YoY growth. The brand sported its widest portfolio in 2023 and also introduced its Crest+ OS. Besides, it launched limited-edition smartwatches for the Cricket World Cup in 2023.
Fastrack registered the highest shipment growth among major OEMs to move to the fourth spot with a 5.4% market share. With existing brand value and wide offline presence, it has expanded rapidly.
Boult captured the fifth spot with a 3.8% market share. It had the lowest ASP among the top five OEMs.
Samsung declined by 3% YoY in 2023 but registered 17% YoY growth in Q4 2023. The Galaxy Watch 4 continued to be the brand’s best-selling model owing to its promotional pricing, making it the best-selling WearOS smartwatch in India.
Apple’s shipments declined by 57% YoY in 2023 owing to longer replacement cycles and higher ASP coupled with iPhone-only compatibility. The brand maintained its lead in the shrinking INR 20,000 and above retail price band. With increased iPhone sales in India in 2023, we can expect gradual growth in Apple Watch shipments in 2024.

Background

Counterpoint Technology Market Research is a global research firm specializing in products in the TMT (technology, media and telecom) industry. It services major technology and financial firms with a mix of monthly reports, customized projects, and detailed analyses of the mobile and technology markets. Its key analysts are seasoned experts in the high-tech industry.

Follow Counterpoint Research

press(at)counterpointresearch.com

iPhone Hits Record 50% Revenue Share on US, India and Emerging Markets; China Risks Remain

Continued strength in premium and ultra-premium increase Apple’s ASP by 2% YoY to a record $890.
Driven by ASP growth, Apple’s 2023 iPhone revenue reached a record $203 billion
Samsung retained the top spot globally in smartphones shipment share in 2023**
Total market shipments declined by 4% in 2023 driven by macroeconomic challenges, especially in the first half of the year.
Samsung’s broader portfolio exposed it to lower-end segment weakness which saw both revenues and shipments decline.
Value (vs volumes) and ASPs are the key metrics to watch, as OEMs continue to pivot upwards thanks to foldables and features like GenAI in flagship models.

London, New Delhi, Hong Kong, Seoul, Beijing, Fort Collins, Buenos Aires – Feb 2, 2024

Global smartphone market revenues declined by 2% to a little under $410 billion in 2023 compared with a 4% decline in shipments. This is thanks to a 2% growth in global smartphone ASPs which touched $350 for the first time. Apple led the market with a 50% share of global smartphone revenues, its highest-ever for a full year. This contributed to the ongoing premiumization trend with one in every four smartphones shipped in 2023 wholesaling for more than $600. Consequently, while the non-premium segments experienced double-digit declines, premium smartphone shipments grew by 8% driven by foldables, features like GenAI, and, of course, Apple.

**Chart data updated on 21.02.2024

Commenting on Apple’s performance in 2023, Research Director Jeff Fieldhack noted, “Among the top five brands, Apple was the only one to register growth in 2023**. While the US made the biggest volume contribution to Apple’s growth, it also received a major boost through double digit growth in emerging markets including India, Caribbean and Latin America (CALA) and Middle East and Africa (MEA). This growth offset any challenges Apple may have faced in China due to the resurgence of Huawei. With an accompanying ASP growth of 2%, it can be seen to be in a revenue super cycle, buoyed by its ecosystem stickiness coupled with the premiumization trend, crossing an annual revenue of $200 billion.”

Elaborating on Apple’s performance in China, Senior Analyst Ivan Lam said, “The positive emerging market offset is a welcome news, but China remains a slight concern. The market’s recovering but Apple is facing competition from a resurgent Huawei in the premium segment and multiple China OEMs digging into iPhone 13 and 14 volumes. We’ll see whether Apple will get aggressive on pricing over the critical weeks before Chinese New Year and how this correlates to volume increases.”

Samsung, the longstanding market leader in terms of shipments suffered setbacks on multiple fronts, ceded some share in premium markets to Apple. Its mid-tier phones also faced increasing competition from Chinese OEMs including Xiaomi and vivo in markets such as India. Its lower-end devices were challenged by Transsion Group in MEA and South East Asia (SEA).

Major Chinese OEMs, other than Huawei and HONOR, suffered shipment as well as revenue declines in 2023. Among the top five brands, vivo suffered a 16% revenue and a 12% shipment decline as a result of relatively weak performance in Europe and the timing of its flagship launch. OPPO’s* revenue and shipment declines stood at 9% each. A steeper decline was prevented thanks to the growth of OnePlus within OPPO Group. OPPO’s* challenges in the lucrative European market may be improving since it has signed a 5G patent cross-licensing agreement with Nokia.

Overall global smartphone ASPs are also likely to continue their upward journey with vendors, carriers, and retailers preferring to sell higher-end models. While on the demand side, backed by better financing options, consumers have also shown greater willingness to spend more for longer lasting devices. The resurgence of Huawei in China is also likely to contribute to ASP growth.

Note: OPPO* includes OnePlus since Q3 2021

**We have made the following changes from our initial February 2 publication based on updated shipments data; Changes include:

Adjustment in Apple’s share and ASP
Switch between Samsung and Apple’s ranking
Revised commentary on Apple’s performance

Feel free to reach us at press@counterpointresearch.com for questions regarding our latest research and insights.

Background

Top

Insights Category: Press releases

Cumulative 5G Smartphone Shipments Cross 2-Billion Mark

Related Posts

G+D, Thales, Idemia Pacesetters in 2023 eSIM Enablement Rankings

Related Posts

US Smartphone Sales Fall 10% YoY in Jan to Reach Almost Half of 2017 Peak

In a First, Apple Captures Top 7 Spots in Global List of Top 10 Best-selling Smartphones

Related Posts

2.2 Billion IoT Connections Expected to be on eSIM by 2030

LATAM Smartphone Market Down 3% YoY in 2023, But Set for Growth as Competition Rises

Survey: realme Scores High Among Indonesia’s Young Smartphone Consumers

India Smartwatch Market Sees Record Shipments in 2023 With 50% YoY Growth

Related Posts

iPhone Hits Record 50% Revenue Share on US, India and Emerging Markets; China Risks Remain

Coverage

Insights

Social media

Contact us

Top

Related Posts

Related Posts

Related Posts

Related Posts

Coverage

Insights

Social media

Contact us

Term of Use and Privacy Policy