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Global Smartphone Sales Set To Struggle In 2023

Smartphone sales will continue to suffer throughout 2023, with the weakening global economy hosing down demand for next-generation upgrades.

12 million fewer smartphones will ship globally than previously forecast, according to DigiTimes Research’s latest report on the global smartphone market.

1.19 billion units are forecast to ship throughout the year, according to the report. This will be up from last year’s 1.165 billion units, but not the recovery that the sector had hoped for.

Digitimes Research has also lower the projection on 2023 global 5G phone shipments to 740 million units.

This comes after six months of disruption in the smartphone industry.

Third-quarter and fourth-quarter 2022 global smartphone shipments came in well under forecast, at 277 million units and 311 million units, respectively.

 

“The quarterly declines in the second half of 2022 were a result of rising inflation plaguing most parts of the world, US interest rate hikes leading to the soaring US dollar while taking a toll on consumer purchasing power in the rest of the world, and the weakening global economy and market confidence dampening phone upgrades during the period,” according to Luke Lin, Senior Analyst of Digitimes Research.

Chinese shipments also took a sizable hit, with 58.4 million units shipped during the September quarter, and 61.7 million units for the December 2022 quarter, marking an on-year decline and 20.5 per cent and 24.3 per cent, respectively.



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