Global monthly smartphone sell-through volumes grew 5% YoY in October 2023, the first month to record YoY growth since June 2021 and break the streak of 27 consecutive months of YoY declines, according to preliminary numbers from Counterpoint Research’s Smartphone 360 Monthly Tracker.
Global smartphone sales have been under stress for the last two years due to factors including component shortages, inventory build-up and lengthening of replacement cycles. These issues have been compounded by an uncertain macroeconomic environment.
The growth in October was led by emerging markets with a continuous recovery in the Middle East and Africa (MEA) region, Huawei’s comeback in China and festive season onset in India, which punched far above its weight to account for the largest share of monthly global gains. Developed markets with relatively higher smartphone saturation have been slower to recover.
