The research company Canalys released its latest report for the Q2 of 2023. The new research comprises the months of April, May, and June and brings us details about the smartphone market. As per the research, in the three months combined, we had a total of 258.2 million smartphone units shipped. This number is not exactly positive as it represents a 10% decline compared to the same period last year. It’s not a huge surprise, as there are inflation pressures in the economic scenarios and some consumers tend to keep their smartphones rather than upgrading them every year. In any case, the figure could be worse, and even with a decline, it represents a slow comeback for the segment. One surprising twist is that we now have Transsion Holdings as one of the world’s top 5 vendors.
Transsion Holdings and Its Impressive Feat On The Smartphone Market
Samsung was once again the leading smartphone market in terms of shipments for the quarter. The Korean firm shipped 53 million smartphones and kept a 21% market share. Its biggest rival in the segment, Apple, came in second with 43 million shipments and a 17% market share. Xiaomi got to the top 3 with 33.2 million shipments and a 13% market share. Oppo was the fourth company with 25.2 million shipments and a 10% market share. The biggest surprise came with Transsion that now sits among the top five with 22.7 million shipments and a 9% market share. You may be unfamiliar with Transsion’s name, but you probably know its brands Infinix, Tecno, and iTel. All these brands are under the Transsion Holdings wing, and their recent efforts brought the conglomerate to the top 5 vendors.
In the past two years, we saw a surge of Infinix, Tecno, and iTel brands across the global markets. These brands have a strong presence in emerging markets and are seeing strong sales in the Middle East, Africa, and Latin America. Infinix and Tecno are actually presenting excellent smartphones with cutting-edge tech, like the Infinix GT 10 Pro. The rise in quality reflects in demand and that probably explains Transsion’s rise to the top-five smartphone brands. Interestingly, Transsion is the only brand with a positive annual growth of 22%.
Moving ahead, Canalys predicts a moderate decline in smartphone demand continuing in the second half of 2023. Things aren’t changing in the next few months, but looking ahead, there is hope. The business segment is expected to improve. We are curious to see if Transsion will keep up its position, but the company is definitively now slowing down in releases.
