After experiencing six consecutive quarters of declining shipments, the smartphone market has faced significant challenges. However, according to Canalys, there is finally a glimmer of hope as analysts have identified signs of recovery.
Although global smartphone shipments witnessed an 11% year-on-year decline, the situation is slightly better compared to the 12% decrease observed in Q1. One positive development is that vendors are actively working to clear their inventory by promoting older models, thereby creating room for upcoming product launches.
Additionally, they are taking proactive measures to secure a stable supply of crucial components, guarding against potential price surges in the future.
In the latest quarter, the top five smartphone manufacturers have maintained their respective positions, although some experienced varying degrees of decline. For instance, Apple’s market share decreased from 21% in Q1 to 17% in Q2, while Samsung remained relatively steady with a slight dip from 22% to 21%.
On a positive note, Xiaomi saw a notable increase of 2% driven by strong demand for their new Redmi models. Similarly, Vivo’s affordable Y-series smartphones have gained significant popularity among consumers.
Oppo and OnePlus are also performing well, particularly in their core markets within the Asia-Pacific region. It’s important to note that Canalys combines the data for Oppo and OnePlus while tracking Vivo separately.
“Oppo, Vivo, Transsion, and Xiaomi are growing their market share in the sub-$200 price band through stronger sales incentives and retail aggression,” said Le Xuan Chiew, Analyst at Canalys.
They are not alone. Canalys noticed:
Growing investments in the channel in the form of channel incentives and targeted marketing campaigns to stimulate consumer demand for new launches, driving channel activity.
Via: gsmarena