International smartphone shipments are estimated to fall 5 per cent YoY to achieve 1.2 billion this 12 months, the bottom stage in round a decade, a brand new report by Counterpoint Analysis mentioned on Thursday. Based on Counterpoint Analysis’s “Smartphone 360 International Smartphone Cargo Forecast”, the smartphone shipments are more likely to enhance by 3 per cent YoY within the fourth quarter (This fall) of the 12 months, to achieve 312 million items.
“India, sustaining its momentum for premiumisation, is anticipated to turn out to be Apple’s new development focus. Apple’s India shipments are predicted to develop 23 per cent YoY in 2024,” Liz Lee, Affiliate Director, Counterpoint Analysis, mentioned in an announcement.
“Nonetheless, attributable to its underperformance in opposition to Huawei in China, Apple’s world market share will unavoidably decline barely YoY in This fall 2023 and throughout 2024,” Liz added.
After destocking efforts finish with a comparatively wholesome stock by year-end, smartphone shipments subsequent 12 months are projected to develop by 3 per cent YoY. We will additionally count on a restoration centered on rising markets, backed by rising client confidence and enhancing macro-economic circumstances.
China and rising markets such because the Center East and Africa (MEA) and India have managed to interrupt out from their declines and can get better to turn out to be the brand new drivers of development within the smartphone market from This fall onwards.
Apple, the standard market chief in This fall with its newly launched sequence, is anticipated to document a quantity decline of three per cent YoY in This fall, primarily attributable to Huawei’s aggressive growth in China and extended delay in smartphone upgrades in Japan. Nonetheless, Apple will attempt to offset the underperformance in quantity phrases by rising in worth phrases with a greater product combine. In This fall final 12 months, the cargo share of the iPhone 14 Professional sequence in the whole iPhone 14 sequence was 61 per cent. In This fall this 12 months, nevertheless, the iPhone 15 Professional sequence’ portion within the iPhone 15 sequence is projected to extend to 65 per cent.
In the meantime, North America (NAM) and Europe’s smartphone shipments are anticipated to stay stagnant.
Apple is predicted to be simply consistent with the market development subsequent 12 months whereas dealing with pressures in its conventional markets. The retention of excessive rates of interest within the US, which hit client spending, and intensifying competitors in China’s premium smartphone market, primarily attributable to Huawei, are anticipated to hinder Apple’s development all through 2024.
