The European smartphone market experienced an 11% contraction in the third quarter of 2023, marking the steepest decline since 2011, as per Counterpoint Research. Realme took the hardest hit, while Apple weathered the storm, edging past Xiaomi, and the resilient Honor emerged as the sole gainer.
Despite the overall dip, Western Europe showed signs of recovery, attributed in part to the launches of Apple’s iPhone 15 and Samsung’s Galaxy Flip5. However, challenging macroeconomic factors persist in the east, impacting market conditions.
Chinese smartphone manufacturers Tecno and Infinix thrived in Russia, witnessing staggering growth rates of 192% and 518%, respectively, in the overall European market. Meanwhile, Honor, the former Huawei subsidiary, stood out by recording an 8% increase in smartphone sales in Q3 2023 compared to the previous year, securing a 3% market share.
Samsung retained its market leadership with a 32% share, despite facing a 15% decline in sales. The popularity of the Galaxy Fold5 and Galaxy Flip5 offered some respite. Apple’s iPhone sales dipped by a modest 3%, but the brand gained a 2% market share, reaching 24%. Xiaomi, with a 22% share, experienced a 13% drop in sales but maintained its dominance in Eastern Europe with a commanding 35% market share.
As the industry navigates challenges and shifting dynamics, Honor’s growth stands out as a testament to resilience, while Apple strategically inches ahead in a European market grappling with economic headwinds. The landscape continues to evolve, with each smartphone giant adjusting strategies to weather the fluctuations in demand and economic uncertainties.
