The Saudi Arabia smartphone market was among the many few to report year-over-year development in quarter with Apple taking the quantity two spot, in line with Counterpoint Analysis.
Whilst many economies struggled in 2022 amid macroeconomic and geopolitical pressures, Saudi Arabia was bolstered by its highest oil revenues in a long time, all-time-low unemployment charges, all-time-high non-oil financial exercise and powerful non-public consumption, notes the analysis group.
Amongst smartphone producers, Samsung and Apple continued to take over half of the overall smartphone shipments within the first quarter of 2023 with Samsung taking the #1 spot. Nevertheless, Apple’s smartphone shipments almost doubled year-over-year led by the recognition of its iPhone 14 collection, particularly the Professional variations, and as older fashions grew to become inexpensive and out there.
Apple reached its highest-ever first quarter cargo share in Saudi Arabia in 2023. Counterpoint Analysis says the model has drastically benefitted from the rise of financing choices, just like the “Purchase Now, Pay Later” mannequin, in Saudi Arabia, making its units accessible to a higher demographic.
Apart from, a rising imply wage and secure change charges elevated the typical Saudi Arabian client’s buying energy in 2022, provides the analysis group. iPhones took 4 of the highest 5 spots within the bestseller checklist for the primary quarter of 2023, with the iPhone 14 Professional popping out on prime.
Counterpoint Analysis expects the Saudi Arabia smartphone market to proceed its development momentum in 2023, with annual shipments more likely to develop in low single digits.
