Report: Economic Restraints Cause 4% Decline in Smartphone Sales in Canada

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Canadian spending on smartphones has reportedly dropped four percent year-over-year (YoY).

A recent report shows that amidst inflationary pressures, smartphone manufacturers continue to witness the second quarter in a row with a year-over-year decline. Q3 2023 continues a slight downward trend for smartphone purchases, kickstarted by Q2 of this year.

Much of this is a result of affordability. It’s claimed that many households are showing signs of lower spending patterns. Adding to this, the high costs of living are playing a role in the decline in smartphone purchases.

Although many manufacturers are experiencing the pains in the decline, Apple is still maintaining a strong position in Canada. The company saw a three percent YoY decline following the launch of the iPhone 15 series. However, some of this is attributed to the iPhone 14 series having an additional week of sales in Q3 2022.

Regardless, Apple maintains a 60 percent smartphone sell-through in Canada. The runner-up is Samsung, which witnessed an 11 percent YoY decline. It’s claimed that weaker flagship sales and an increase in presence from Motorola played a part in this.

Image credit: Counterpoint

It’s worth noting that both Motorola and Google saw a boost in sell-through, coming to 39 percent and 16 percent respectively. For Motorola, being positioned as a mid-tier option paid off for the brand. Google’s success is largely attributed to promotions and targeted marketing, says the report.

Looking into the future, Associate Director, Hanish Bhatia believes carriers will target Black Friday and Boxing Day promotions to bounce back. “The country is seeing an economic slowdown with uncertainties around geopolitical environment and immigration policies in 2024, Bhatia says. “This means leaning into the premium device sales with Black Friday and Boxing Day promotions that brings in high volumes of flagship sales.”

It’s unclear what Counterpoint’s methodology for this study is. We’ve reached out to the company for more information.

Source: Counterpoint

(The following story may or may not have been edited by NEUSCORP.COM and was generated automatically from a Syndicated Feed. NEUSCORP.COM also bears no responsibility or liability for the content.)

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