Smartphone Market Slumps to Lowest in a Decade

  • 📰 NEWSMAX
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 71%

Business News News

The global smartphone market contracted by 8% to its lowest third-quarter level in a decade on subdued demand for major brands including Apple and Samsung in most developed markets, according to data from Counterpoint Research.

The data, shared exclusively with Reuters, showed that the share of the top five brands, which also include Chinese firms Xiaomi, Oppo and Vivo, had fallen to a three-year low.

Among those that gained market share in the quarter are Apple's Chinese rival, Huawei, which despite the strict U.S. sanctions against it, shocked the industry earlier this year with its Mate 60 Pro smartphone that uses an advanced domestically made chip. Counterpoint cited the iPhone 15 lineup that went on sale in September as a factor that could help revive growth in developed markets such as the United States, Europe and Korea.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 16. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Global smartphone market slumps to lowest Q3 level in decadeGlobal smartphone market slumps to lowest Q3 level in decade - Counterpoint
Source: Investingcom - 🏆 450. / 53 Read more »

Why bond-market investors are not panicking about the worst Treasury bear market in history‘Ripping the band-aid off’ this time should be preferable to investors because interest rates are now much higher to act as a margin of safety, says Ben Carlson
Source: MarketWatch - 🏆 3. / 97 Read more »

Stocks edge higher, Tesla, Powell in focus, Pfizer slumps, Taylor Swift shines, Lululemon enters S&P 500 -...Stocks higher, Tesla, Powell in focus, Pfizer, Taylor Swift, Lululemon
Source: startelegram - 🏆 248. / 63 Read more »