Apple's iPhone Shows Resilience While Global Smartphone Market Hits Lowest Q3 Levels In A Decade
Portfolio Pulse from Rounak Jain
Apple Inc. reported a 9% decline in iPhone shipments in Q3 2023, the slowest decline among major smartphone makers. The global smartphone market hit its lowest Q3 levels in a decade, according to Counterpoint Research. Apple's market share increased to 16% from 15% a year ago. Samsung Electronics and Xiaomi Corp. saw their shipments fall by 13% and 15% respectively.
October 17, 2023 | 8:14 am
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NEUTRAL IMPACT
Apple's iPhone shipments declined by 9% in Q3 2023, the slowest among major smartphone makers. However, its market share increased to 16% from 15% a year ago.
Despite the decline in iPhone shipments, Apple's market share increased, indicating resilience in a challenging market. This could potentially have a neutral impact on Apple's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Samsung Electronics saw its shipments fall by 13% in Q3 2023.
Samsung's larger decline in shipments compared to Apple could potentially have a negative impact on its stock in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 70
NEGATIVE IMPACT
Xiaomi Corp. saw the most significant decline in shipments at 15% in Q3 2023.
Xiaomi's significant decline in shipments could potentially have a negative impact on its stock in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 70