Sales of smartphones continued to shrink globally in the recently-ended quarter as consumers watched spending, market tracker Counterpoint reported on Monday.
Smartphone sales fell 8 percent, marking the ninth consecutive quarter of decline in year-over-year comparisons, according to research by Counterpoint's Market Pulse service.
The decline was "largely due to slower than expected recovery in consumer demand," the group said in its findings.
But strong September sales along with buzz around Apple's new iPhone 15 line-up were signs the current quarter may break the losing trend, according to the market tracker.
"However, the market is expected to decline for the full year of 2023, reaching its lowest level in the decade largely due to a shift in device replacement patterns, particularly in developed markets," Counterpoint said.
South Korean consumer electronics giant Samsung continued to lead the smartphone market, accounting for a fifth of the sales in the recently-ended quarter.
Apple was listed as second with 16 percent of the market with iPhone 15 models well received so far.
gc/des
