Smartphone Slowdown: Apple, Samsung, And Google Grapple With Double-Digit Declines As Buyers Delay Upgrades
Portfolio Pulse from Rounak Jain
US smartphone shipments fell 19% YoY in Q3 2023, marking the fourth consecutive quarter of decline. Major smartphone manufacturers Apple Inc. (AAPL), Samsung Electronics Co Ltd. (SSNLF), and Alphabet Inc.'s Google (GOOG, GOOGL) reported double-digit declines in shipments. Apple's iPhone shipments fell 11%, Samsung's fell 26%, and Google's fell 37%. Despite the decline, Apple's market share increased to 55% from 50% YoY due to a lesser fall compared to its rivals.
November 02, 2023 | 8:58 am
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NEGATIVE IMPACT
Apple's iPhone shipments fell 11% YoY in Q3 2023. However, the company's market share increased to 55% from 50% YoY due to a lesser fall compared to its rivals.
The decline in iPhone shipments indicates a slowdown in sales, which could negatively impact Apple's revenue. However, the increase in market share suggests that Apple is faring better than its competitors in the current market conditions.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Google's smartphone shipments fell 37% YoY in Q3 2023, marking the largest decline among the major smartphone manufacturers.
The sharp decline in Google's smartphone shipments indicates a significant slowdown in sales, which could negatively impact Alphabet's revenue and stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Google's smartphone shipments fell 37% YoY in Q3 2023, marking the largest decline among the major smartphone manufacturers.
The sharp decline in Google's smartphone shipments indicates a significant slowdown in sales, which could negatively impact Alphabet's revenue and stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Samsung's smartphone shipments fell 26% YoY in Q3 2023, indicating a significant slowdown in sales.
The significant decline in Samsung's smartphone shipments suggests a substantial slowdown in sales, which could negatively impact the company's revenue and stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100