Smartphone market shows signs of recovery
The smartphone market is growing again, according to research firm Counterpoint, which estimated that sales grew 5 percent in October, compared to a year ago, the first expansion after 27 consecutive months of decline.
A recovery in emerging markets such as Middle East and Africa, Huawei’s comeback and Apple’s new iPhone models, among others, contributed to the gain.
Developed markets with relatively higher smartphone saturation have seen a slower recovery.
“Following strong growth in October, we expect the market to grow year-on-year in 2023 Q4 as well, setting the market on the path to gradual recovery in the coming quarters,” the research firm noted.
Analysts said emergence of devices with AI features could further stimulate interest in new devices next year.
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