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European phone shipments sink to a new low

European phone shipments sink to a new low https://ift.tt/rX0T3Qv

While European smartphone shipments sink to new lows, according to the latest figures from market analysts Counterpoint Research.

In its latest paper on the state of European smartphone shipments - Market Monitor Service - the firm claims a 12% decline year-on-year in Q2 2023. Furthermore, the analysts claim this is the lowest quarterly shipment volume since Q1 2012.

Western Europe has had the strongest decline - 14%, while Eastern Europe, described as “in an already battered state” experienced an 8% drop.

Russia is growing

Russia, on the other hand, has had a 4% growth year-on-year. Unfortunately, this is not due to any improvement in the market itself, or the buying power of its citizens, but rather because Q2 2022 was the first full quarter after the country’s invasion of Ukraine and major smartphone players’ exit from the market. 

Xiaomi is the market leader in Russia, the analysts further explained, with realme taking the number two spot. This upcoming Chinese manufacturer grew 12% year-on-year, taking up 55% of the brand’s shipments in the region. Counterpoint argues that realme benefitted greatly from Samsung’s and Apple’s exit. This also marks the fifth consecutive quarter realme held on to the number two spot, and during this time managed to consistently narrow the gap on leaders Xiaomi. 

HONOR grew 9% year-on-year. 

The smartphone market has been in a tough spot for years now, as new models only come with incremental improvements, and with form factors being almost identical among different manufacturers. New smartphones have lost the “wow” factor, which is one of the reasons consumers are increasingly turning towards used and refurbished devices. Foldable devices are showing promise, but so far they’ve failed to capture the interest of the majority of the consumers. 

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