A brief look at the performance of smartphone companies in Q1 2023

A market intelligence firm TrendForce has shared some data about the performance of smartphone companies in Q1 2023. The information suggests that Samsung outcompete Apple during Q1 2023. Well, it is due to the Galaxy S23 series that was introduced earlier this year in February.  

Samsung crumpled Apple in Q1 2023

In contrast to the first quarter of this year, the Cupertino-based tech firm Apple secured huge benefits in Q4 of 2022. Comparatively, the South Korean conglomerate was able to gain 24.6% of the market. It is about a 5.5% increment in QoQ, as compared to Q4 last year. On the other hand, the company witnessed a YoY decline of 16.7%.

Besides Samsung, the second position was secured by Apple with a market share of 21.3%. In contrast, this is a sharp decline of 27.5% in contrast to QA4 2022. Moreover, in comparison to Q1 2022, the recent data show that it is a decline of 11.9%.

Xiaomi observed a significant decline in QoQ and YoY

The third position with respect to the market share was secured by Oppo. It was able to grab a market share of 10.7%. Like Samsung and Apple, OPPO also reported a decline in QoQ and YoY earnings. Reportedly, Oppo observed a 17% decline in Qoq and a 33.8% decline in YoY. 

Xiaomi ranked in fourth position with a 10.6% market share. It reported a decrease of 27.4% in QoQ and 40.4% in YoY. The fifth position was grabbed by Vivo. It secured a market share of 8% and reported a decline of 14.2% in QoQ and 2.3% in YoY. Among all the top five companies, Xiaomi is the most affected.

Since 2014, this quarter had the lowest sales of smartphones

According to TrendForce, smartphone shipments had their worst quarter since 2014 during this quarter. 250 million units were sold in total, a 19.5% decrease from the previous year. The primary culprit is the state of the global economy.