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Apple holds strong as global smartphone market keeps shrinking

The smartphone market is slowly recovering

Even though the iPhone 15 is just a few months away, Apple continues to maintain solid iPhone sales in a smartphone market that may be starting to pull up from a years-long dive.

The worldwide smartphone market experienced a 10% drop in shipments, totaling 258.2 million units in the second quarter, according to the latest research by Canalys. That figure indicates a slowdown in the market's rate of decline, as a previous report from April showed a drop to 269.8 million units.

In the new report, Samsung maintained its leadership position by shipping 53 million units. Apple followed closely, securing the second spot with 43 million units shipped, accounting for a 17% market share.

With normalized inventory levels, Xiaomi ranked third with 33.2 million units, and OPPO, including the OnePlus brand, held its fourth position with a 10% market share and 25.2 million units. Transsion Group, which encompasses brands like Tecno, Infinix, and iTel, debuted in the top five, shipping 22.7 million units and witnessing a 22% annual growth.

"The decline in the global smartphone market has once again narrowed, helped by an industry-wide inventory reduction and signs of demand recovery in certain regional markets," said Amber Liu, Analyst at Canalys. Liu also highlighted Samsung's conservative strategy amidst profitability pressures and the slow recovery in the semiconductor industry.

"Samsung has seen its lowest Q2 performance since 2013," she commented. "With the high-profile release of its latest Galaxy Z Flip and Fold models, it has clearly demonstrated its ambition to compete with Apple in the luxury market."

Looking ahead, Liu anticipates a moderate decline in the global smartphone market for 2023. With their agility and openness to new market opportunities, she believes that emerging vendors will play a pivotal role in shaping the industry's future.