Global smartphone market down 4% in Q3

The global smartphone market grew 32% quarter-on-quarter to reach 366 million units but declined 4% year-on-year, Counterpoint said in its latest report. “Eased lockdown conditions in all key markets made way for exports and imports, thus streamlining the supply chain again. Also, the pent-up demand due to lockdowns helped the smartphone market take a recovery trajectory,” said Associate Director Tarun Pathak. Supply issues are also getting resolved due to the normal operations of manufacturing units in China and Vietnam, while in India the units are operating 80% of the pre-covid levels, noted Pathak. “In markets like the US and Europe, a modest ‘back to school’ bump in the quarter helped the market to recover.” Chinese smartphone maker Realme was the fastest growing smartphone brand. It grew 132% quarter-on-quarter to ship 14.8 million units in Q3 2020 and consequently witnessed its market share reach 4% in Q3.

Realme also became the world’s fastest brand to hit 50 million shipments since its inception, surpassing brands like Samsung, Apple, Huawei, and Xiaomi. “Realme grew to become one of the top 5, or even top 3, brands in its key markets, including India, Russia, Bangladesh, Philippines, and some other Southeast Asian countries. Having released a strong 5G smartphone portfolio during Q3, Realme also achieved remarkable growth in the China market (90% QOQ in terms of sales volume),” said Research Analyst Abhilash Kumar. “We see Realme’s expansion beyond smartphones into the IOT space. Products like smartwatches, TWS, and smart TVS will further help the brand strengthen its position in the global market,” Kumar noted. Korean handset maker Samsung regained its top position in Q3 to ship 79.8 million units, the highest-ever in the last three years, and grew 47% quarter-on-quarter and 2% year-on-year, said the report. ■