Apple, Samsung capture 96% of global smartphone mkt operating profits in Q1, Chinese brands in red: Counterpoint

NEW DELHI: Apple and Samsung cumulatively captured 96% of global smartphone operating profits in Q1 2023 and remained the most profitable brands while the revenue and profits of China’s Xiaomi, Oppo, and Vivo declined year-over-year in the quarter, according to the latest report released by Counterpoint Research on Friday.

Counterpoint reported that the global smartphone market faced further contraction in the post-holiday-season quarter with shipments declining 14% year-over-year and 7% sequentially to 280.2 million units in the January-March quarter.