The smartphone market grew again in October after two years
After more than two years of contraction, the global smartphone market began growing again in October, supported by the recovery of emerging markets.
Data from market research firm Counterpoint Research showed that global monthly smartphone sales volume increased 5 percent, making October the first month to record year-on-year growth since June 2021, breaking a streak of 27 consecutive months of contraction in one year. -comparison of years.
In its report, Counterpoint stated that global smartphone sales have been under pressure for the past two years, affected by various issues such as parts shortages, stock build-ups and extended replacement cycles.
A GRADUAL RECOVERY IS EXPECTED
“Following strong growth in October, we expect the market to continue growing annually in the fourth quarter of 2023, and to gradually begin to recover in the coming quarters,” Counterpoint said.
The report states that the growth, which was last seen in June 2021 and was a result of postponed demand due to Covid-19, was led by emerging markets with continued recovery in the Middle East and Africa, the return of Huawei to China and the start of the festival season in India. .
Huawei’s smartphone sales in China rose 37 percent in the third quarter. (REUTERS)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
