The global smartphone market continues to decline. In the second quarter of 2023, smartphone shipments fell by 7.8% compared to the same period last year, according to figures from International Data Corporation (IDC). Only 265.3 million smartphones were shipped between April and June 2023.
Weak demand, inflation, macroeconomic uncertainties and excess inventory continue to impact this market. We would have to wait until the end of the third quarter of the current year to see the stocks run out according to the same source. The company expects the market to return to growth towards the end of the current year and early 2024, said Nabila Popal, research director at IDC’s Mobility and Consumer Device Trackers, in a press release.
China’s smartphone market saw a 2.1% decline in the second quarter of 2023, according to IDC. Asia/Pacific (excluding Japan and China), the United States, Europe, and the Middle East and Africa also saw their smartphone shipments decrease respectively by 5.9%, 19.1 % and 3.1% in the corresponding period.
IDC notes that despite the downturn in the smartphone market, the foldable phone segment is expected to grow nearly 50% in 2023.
In terms of OEM rankings, Samsung remains in the lead with 53.5 million phones shipped worldwide. The South Korean manufacturer maintains a 20.2% market share. Apple comes second with 42.5 million iPhones sold. Xiaomi ranks third with 33.2 million units shipped. The three manufacturers have, it should be noted, experienced a drop in their shipments between 2022 and 2023. The recorded decline is 15.2%, 6.3% and 16% respectively.
