This is good news for Apple: Global monthly smartphone sell-through volumes grew 5% year-over-year (YoY) in October 2023, the first month to record YoY growth since June 2021 and break the streak of 27 consecutive months of YoY declines, according to Counterpoint Research.
Global smartphone sales have been under stress for the last two years due to factors including component shortages, inventory build-up and lengthening of replacement cycles, notes the research group. These issues have been compounded by an uncertain macroeconomic environment.
The growth in October was led by emerging markets with a continuous recovery in the Middle East and Africa (MEA) region, according to Counterpoint.
Another growth factor has been the late launch of the iPhone 15 series when compared to last year, the research group adds. The one-week delay this year meant the full effect of the new iPhone sales was felt in October.
Following this strong growth in October, Counterpoint says it “expects the market to grow YoY in quarter four of 2023 as well, setting out on a path to gradual recovery in the coming quarters.”