Customer Info, Design trends, Smartphones, Zeepla Mission

What happened in the Smartphone Market in 2023? Impact on the preloved market

As 2023 draws to a close, now would be a good time to have a snapshot view of the performance of the key players in the smart gadget market particularly the smartphone market as measured by total shipment.

One certainty has been the fight for market shares and to get more of your money. Prices have continued to increase driven also by all the other factors including the continuing global geopolitics largely fuelling the global cost of living crisis. Obviously, only the Quarters 1 to 3 (Q1 – Q3) data are currently available while reliable Q4 data will normally be available  sometime in  Q1 2024.

iPhone 15, Gestation time for top smartphones to reach the second hand market is getting shorter

This is important because the ups and downs in the new gadget market as well as in the general economy also have overarching impact on innovation, development, availability and market cycle in the new smartphone market, which in turn affects the second hand, pre-love devices market cycle particularly of smart phones. The quicker major players, in no particular order, like Apple, HONOR, Huawei, Motorola, OPPO, Samsung, Tecno, Vivo and others can innovate, manufacture and ship, the faster newer and state of the art, high value, high tech smart devices will feed and recycle into the second hand market ecosystem. In other words, development in the new smart gadgets market is closely linked to that of the second hand smart devices market.

Galaxy S23 Ultra – one of the top shipments of 2023

As always, there are winners and loser in the mix. The data showed that Samsung retained its position as the top smartphone company growing by 11% QoQ while being down 8% YoY. Some brands in the top 10:  HONOR, Motorola, Tecno and Huawei enjoyed double digit growth. Interestingly in the Q3 2023, the Middle East and Africa (MEA) were the smartphone growth market destination. The highest decline was seen in the mature markets of North America.

In absolute terms, Q3 shipment represents a significant improvement on Q2, which reached 268 million units with an important decline of 9% YoY. Apple with the least decline was the major winner in the top 10 players. MEA was the only smartphone growth region. North America the market with the most decline.

Research published on November 10 2023 by Counterpoint provides good insights into the movements in the smartphone market space. The research showed that overall the global smartphone market declined by 1% year on year (YoY). The devil is always in the details. The total global shipment for the year still stood at an impressive Q3 shipment of 299.8 million units, though down on the same period YoY 2022 shipment.

In Q1 2023, Counterpoint research found that the global smartphone market declined by a significant 14% YoY with a record 280.2 units.  Samsung replaced Apple as the top brand in term of shipment numbers. In the same Q1 2023, the global smartphone revenue was reported to be $104 billion declining by 7% YoY. Clearly, the MEA markets are where to look for growth.

What does these smartphone shipment data mean for the second hand, preloved smartphone market ecosystem where Zeepla is a player? 

Primarily, despite challenges in the industry, significant number of smartphones continued to reach the markets in various parts of world. This is healthy for the preloved market.

Competition among the top players including Apple, Samsung, OPPO, Xiaomi, Motorola, HONOR, Huawei, OPPO and others, will continue to drive innovation and the desire to fight for and maintain market shares. These activities will continue to push quality used or preloved smartphone into the second hand market space energizing the market even further.

Importantly, as prices of the new smart devices continue to rise unabetted, the value of preloved, second hand smartphone will continue to appreciate for careful owners. More attention will continue to be given to this market ecosystem. Not surprisingly, some of the big players in the sector have noticed and have or are planning to set up their own preloved stalls directly or in partnership for their brands.

Long live preloved devices market!

Zeepla is determine to offer its community the best innovative platform experience  to transact on any type of smart devices or whether to donate, sell, buy or exchange.

By

Dr Zeepla

Reference

Counterpoint Research, Global smartphone shipment 2023: https://www.counterpointresearch.com insights / /global-smartphone-share/

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