The smartphone market is predicted to recover

Analysts from Canalys predicted a recovery in the global smartphone market. This is reported in the company’s current report.

The market grew 8 percent in the fourth quarter to reach 319.5 million units, according to the study. Total shipments for all of 2023 were 1.14 billion units, down 4 percent from 2022. However, experts believe that these figures indicate signs of stabilization and recovery.

Canalys experts named the markets of developing countries – Latin America, Africa and the Middle East – as the main factor in the market recovery. However, in developed countries – China, Europe, North America – the market continues to face challenges due to lower consumer spending and reduced investment in distribution channels. Analysts have predicted that emerging markets will remain a strategic battleground for most smartphone makers in 2024.

At the end of 2023, Apple took the leading position with a share of 20 percent and 229.2 million devices shipped. Samsung and Xiaomi also made it into the top 3 – their share was slightly less than 20 and 13 percent, respectively.

At the end of January, it became known that Samsung managed to sell out the Galaxy S24 series smartphones in record numbers. Between January 19 and January 25, Samsung managed to sell 1.21 million units.