Tecno & Infinix beat Vivo to rank 5th among global companies

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Tecno & Infinix beat Vivo to rank 5th among global companies

An economic downturn’s affects are causing an ongoing fall in the performance of the globally smartphone market. TrendForce data show that the market fell by about 20% in the first quarters of this year, then by 6.6% in the second.

2023 has not gotten off to a good start. A total of 522 million smartphones were produced all over the first half of this year thanks to the combined production of 272 million in Q2 and Q1. This represents a huge 13.3% drop from the same time in 2022.

While many phone manufacturers have felt the effects of this recession, some are seeing more unexpectedly positive results.

In fact, Transsion, which includes Tecno, Infinix, and Itel, beat out Vivo to take over as the fifth-largest phone manufacturer in the world.

Vivo, Tecno, and Infinix

Transsion, which consists of Tecno, Infinix, and Itel, replaced Vivo in the Top 5 ranks for the first time ever. Transsion’s entry into the mid-to-high-end market is partly responsible for this success. Notably, when comparing Q1 with Q2 data, a huge 71.9% increase in production was seen.

While Transsion increased by 25.1 million units, Vivo (including Vivo and iQOO) dropped to sixth place with a rather modest but still impressive gain of 15%, reaching 23 million units.

Apple and Samsung

Various businesses saw different levels of impact. Samsung maintains its lead by producing 53.9 million units, taking in a market share of just under 20%, despite a fall of 12.4% from Q1 levels. Market impact from the upcoming Galaxy Z foldables’ launch in Q3 is anticipated. However, it might not be a sufficient increase given the Galaxy S23 series’ underwhelming sales.

Just before the major iPhone launch, in Q2, Apple’s historically weakest quarter, many customers put off buying new devices or wait until outdated models go on sale. The difficulties with manufacturing the iPhone of the newest generation, however, cast doubt on Apple’s chances of success in the third half.

TrendForce expects that if the iPhone 15 series performs better than anticipated, Apple may overtake Samsung and take the top spot.

Oppo and Xiaomi

A total of 35 million units were produced across the Xiaomi, Redmi, and Poco phone lines, an important 32.1% increase in production for Xiaomi compared to Q1. Due to its expansion, Xiaomi was able to overtake Oppo and move up to third position in the rankings.

Despite a 25.4% rise in production quarter over quarter, which resulted in a total of 33.6 million smartphones created, Oppo, which includes Oppo, Realme, and OnePlus phones, fell to fourth place. The business had significant performance in Southeast Asia and other markets, and it is anticipated that this pattern will continue in Q3, setting the stage for a tight fight against Xiaomi.

Looking Forward

The production of smartphones worldwide will be at its lowest point in the first half of 2023. Similar to last year, TrendForce predicts a modest yearly gain of 2-3% for the coming year.

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