Samsung top pick for retail investors after US election
Retail investors scooped up 2.33 trillion won ($1.67 billion) worth of Samsung Electronics stocks since the U.S. presidential election, the country's main bourse said on Sunday.
The US smartphone market shrank another 5 per cent (year-on-year) in Q3, continuing its downward trajectory, according to a new report.
Despite this trend, shipments grew 21 per cent sequentially to 31 million units, driven by Apple’s latest iPhone release and carrier promotions targeting premium device upgrades, according to market research firm Canalys.
Apple’s shipments declined by a modest 8 per cent, amounting to 17.2 million units.
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The late arrival of the iPhone 15, compared to the timing of the iPhone 14, contributed to the decline.
Samsung’s volume recovered slightly compared to Q2 2023 as it shipped 6.8 million units. Its new foldables boosted its performance, which accounted for over 20 per cent of its shipments.
Google Pixel captured 4 per cent market share, shipping 1.2 million units.
“The US smartphone market is stabilizing, but there is no expectation that Q4 will make a turnaround,” said Runar Bjorhovde, analyst at Canalys.
The iPhone 15 series had a strong start in September, accounting for 34 per cent of all iPhone sales in the US during Q3.
“The annual refresh of the iPhone portfolio remains paramount to all carriers, even to smaller challengers such as Boost Infinite, to attract switchers. However, fewer current users opt for upgrades to the latest models. Instead, there is a growing trend toward buying older generations, refurbished devices or keeping current phones longer,” explained analyst Le Xuan Chiew.
As the US smartphone market stabilises, Canalys anticipates a mild recovery in 2024.
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