A smartphone is seen on a selfie stick in Manhattan, in New York City, New York U.S., February 11, 2022.
REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNov 21 (Reuters) - The global smartphone market returned to growth in October after more than two years of slump, helped by a recovery in the emerging markets, according to data from Counterpoint Research.
The data showed that global monthly smartphone sell-through volumes grew 5%, making October the first month to record year-on-year growth since June 2021, breaking the streak of 27 consecutive months of negative year-on-year growth.
The global smartphone sales have been under stress for last two years affected by various issues starting with component shortages, inventory build-up and lengthening of replacement cycles, Counterpoint said in its report.
"Following strong growth in October, we expect the market to grow year-on-year in the fourth quarter of 2023 as well, setting the market on the path to gradual recovery in the coming quarters," the market research firm said.
Andrew Kelly, Baranjot Kaur, Rashmi
New York City , New York U.S, REUTERS, Counterpoint Research, Thomson
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