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Smartphone Sales Rise For First Time In Two Years

Worldwide smartphone sales rose in October after declining for more than two years, according to data from Counterpoint Research

After declining for 27 consecutive months on a year-over-year basis, smartphone sales increased 5% in October, led by a recovery in emerging markets.

October saw the highest monthly smartphone sales since January 2022.

Huawei saw the fastest growth among smartphone makers in China in this year’s third quarter after the release of its “Mate 60 Pro” device in September, which generated a lot of consumer interest.

The launch of Apple’s (AAPL) iPhone 15 series in late September also gave smartphone sales a boost, said Counterpoint.

Over the past two years, global smartphone sales have been negatively impacted by component shortages, inventory build-up, and longer replacement cycles.

Tech research firm Canalys said the decline in global smartphone sales was slowing with third-quarter shipments dropping 1% compared with a 10% decline in this year’s second quarter.

South Korea’s Samsung continued to lead the global smartphone market in the third quarter, with a 20% share, according to Counterpoint Research. Apple was second with a 16% worldwide market share, followed by Chinese brands Xiaomi (12%), Oppo (10%) and Vivo (8%).

Counterpoint Research forecasts that smartphone sales will continue to grow in the current fourth quarter of this year.

Apple’s stock has gained 53% this year and currently trades at $191.31 U.S. per share.

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