CHART: Europe's Smartphone Market Saw a Steep Decline in Q1 2023

Highlights:

• Samsung managed to maintain its leadership position, albeit with a 27% year-on-year decrease in shipments.
• Apple secured the second spot with only a slight gain in market share compared to the previous year.
• Xiaomi emerged as the only major vendor to experience year-on-year growth.

In the face of a challenging economic climate, the European smartphone market experienced a significant decline in the first quarter of 2023, marking the region's worst quarter for smartphone shipments since Q2 2012 as revealed in the latest research from Counterpoint.

This protracted shrinking of the European market emphasizes the challenges faced by the region. High inflation and interest rates, the geopolitical conflict between Russia and Ukraine and other economic factors in the region continue to weigh heavily on consumer behaviour and purchasing decisions.

Despite the challenging market conditions, Samsung managed to maintain its leadership position, albeit with a 27% year-on-year decrease in shipments, as the Techloy chart below shows. The relative success of its latest flagship Galaxy S23 series launch played a significant role in helping Samsung retain its market share.

Apple secured the second spot with only a slight gain in market share compared to the previous year. On the other hand, Xiaomi emerged as the only major vendor to experience year-on-year growth. The company's recovery from a poor Q1 2022 contributed to its positive performance during the quarter.