INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

GCC witnesses 5.8 percent decline in mobile phone sales in second quarter

  • IDC predicts a 9.4 percent decline in shipments QoQ for the GCC smartphone market in Q3.
  • Smartphone shipments were down 5.1 percent and feature phone shipments fell 11.9 percent

A report by International Data Corporation (IDC) shows that overall Gulf Cooperation Council (GCC) mobile phone sales declined 5.8 percent quarter over quarter (QoQ) in Q2.

Smartphone shipments were down 5.1 percent QoQ to 5.26 million units and feature phone shipments fell 11.9 percent to 590,000 units, the report quoted by the website Telecompaper.com said. 

The GCC smartphone market totaled USD 1.88 billion in Q2, down 6 percent from the previous quarter, and the feature phone market totaled USD 13.87 million, up 6.7 percent.

Due to supply shortages and high levels of inventory carried over from the first quarter, smartphone shipments to the GCC were more constrained than expected in Q2, said a senior analyst at IDC Akash Balachandran, quoted by Telecompaper.com. 

In Q2, Saudi Arabia, which is the largest smartphone market in the GCC with a 55.3 percent share, suffered a decline in shipments of 2.3 percent QoQ. Shipments to the UAE, its second-largest market, fell 18.6 percent quarter-on-quarter.

Samsung dominated the GCC smartphone market in Q2 with a share of 44.9 percent, according to IDC. 

Apple (17.0% share) saw shipments fall 8.8% QoQ as older models were discontinued and fewer shipments of the iPhone 11 model were made.

 Xiaomi finished third (14.7% share) and suffered a 5.0 percent decline in shipments from QoQ to QoQ due to supplies being directed to large markets outside the GCC.

IDC predicts a 9.4 percent decline in shipments QoQ for the GCC smartphone market in Q3.