Smartphone Market Bounces Back with October Sales Surge

Global smartphone sales rebounded in October, growing 5% YoY after declining for 27 consecutive months. The recovery was driven by emerging markets, including the Middle East, Africa, and China, as well as the onset of the festive season in India. Huawei experienced the fastest growth among smartphone makers in China, while the launch of Apple's iPhone 15 series also contributed to the boost in sales. Despite challenges such as component shortages and longer replacement cycles, Counterpoint Research expects the global smartphone market to continue growing in Q4 2023.