Global Smartphone Output Rebounds in Q4, but 2023 Production Slips 2.1%

Global smartphone production jumped 12.1% in the fourth quarter of 2023 to 337 million units, ending an eight-quarter decline, according to the latest report from market research firm TrendForce. However, annual output for 2023 still fell 2.1% to 1.166 billion units.

Source: TrendForce

Apple led the pack in Q4 with a 58.6% surge in production, reaching 78.5 million units, thanks to strong demand for its iPhone 15 series. Despite this, the company’s annual production dropped 4.2% to 223 million units, securing second place.

Samsung saw an 11% decline in Q4 production to 53.5 million units, while its yearly output fell 11.3% to 229 million units, narrowly maintaining its lead over Apple.

Chinese brands Xiaomi, Oppo, and Vivo experienced mixed results, with slight increases in Q4 production but overall annual declines. They face heightened competition in the Chinese market due to a downturn in consumer spending and Huawei’s aggressive comeback.

Transsion, which includes brands Tecno, Infinix, and itel, stood out with an 11.3% growth in Q4 and a 46.3% year-on-year increase, breaking the 90 million annual production mark. The company’s success is attributed to inventory replenishment, product diversification, and expansion into new markets such as India and South America.

Looking ahead, TrendForce expects the smartphone market to recover in 2024, free from the inventory pressures of the previous year. The focus will be on AI applications, with industry giants collaborating to introduce AI-powered smartphones.