Transsion has achieved an impressive milestone, catapulting itself into the top five global smartphone manufacturers based on shipments in the second quarter of 2023. During this period, the company successfully shipped a total of 22.7 million smartphone units, representing a remarkable 22% increase from the previous year. This outstanding performance has elevated Transsion’s market share from 6% to an impressive 9% in the current year.
As a China-based manufacturer, Transsion oversees popular brands like Infinix, Tecno, and iTel. The achievement can be attributed to Transsion’s strategic expansion into various emerging markets, alongside a significant market recovery in Africa. Their growing success in these regions has opened up new opportunities for competition within the global smartphone industry.
Despite Transsion’s noteworthy ascent, Samsung remains firmly positioned at the top with a total shipment of 53 million smartphone units. While Samsung experienced a 14% decline compared to the second quarter of 2022, the company’s market share has managed to remain stable at an impressive 21%.
Apple, on the other hand, maintains a solid global market share of 17%, despite facing a 13% decline in shipments, with 43 million units shipped compared to the previous year.
Securing the third spot is Xiaomi, which recorded a total shipment of 33.2 million handset units. Although they faced a 16% decline compared to the second quarter of 2022, Xiaomi’s global market share experienced a marginal decrease of just one percentage point, settling at 13% in the second quarter of 2023.
Oppo, a smartphone brand under BBK Electronics, occupies the fourth position with a steady global market share of 10%. Despite an 8% year-on-year decline in shipments (25.2 million units), Oppo has successfully maintained its position in the fiercely competitive global smartphone market.
In the broader landscape, the global smartphone market saw total shipments reaching 258.2 million units in the second quarter of 2023, reflecting a 10% decline from the previous year’s figure of 287.4 million units. However, Canalys analyst, Amber Liu, offers an optimistic perspective, noting that the decline is showing signs of narrowing. Factors contributing to this trend include industry-wide inventory reduction and emerging signs of demand recovery in certain regional markets.
Samsung, facing profitability pressures and a slower recovery in the semiconductor industry, adopted a cautious strategy in the second quarter of the year. Despite encountering its most challenging quarter since 2013, Samsung has exhibited ambitions to compete with Apple in the luxury market by launching new flagship models like Galaxy Z Flip and Fold. This strategic move is considered crucial as Samsung aims to achieve recovery and growth in the next nine to twelve months.
Transsion’s remarkable progress in the global smartphone market marks a significant milestone for the company. Their success story is driven by increased shipments in the burgeoning African market and a well-executed strategic expansion plan in other promising emerging markets. As Transsion continues to gain momentum, the competition in the global smartphone industry is expected to intensify, leading to further innovations and developments for consumers worldwide.
