- DIGITIMES Research estimates that global smartphone shipments will decline by 13.2% year-on-year in the first quarter of 2023 to only 264 million units.
- Shipments in the second quarter are expected to decline by 6.4% year-on-year to 257 million units.
- Research institutions believe that 2023 will be a cautious year for smartphone manufacturers.
- In March of this year, TechInsights predicted that global smartphone shipments would decline slightly in 2023, down 1% year-on-year.
- However, in early June, TechInsights lowered its forecast to a decline of 2.8%.
- DIGITIMES Research's forecast is closer to TechInsights, with a decline of 2.3%.
- The agency also lowered its forecast for global 5G smartphone shipments in 2023 from 679 million units to 577 million units.
The global smartphone market is expected to experience continued decline in 2023, with shipments forecast to fall by 6.4% year-on-year in the second quarter of the year. This follows a 13.2% decline in shipments in the first quarter of 2023.
Market research firm DIGITIMES Research attributed the decline to a number of factors, including the ongoing economic slowdown, rising inflation, and the ongoing chip shortage. The firm also noted that consumers are becoming more cautious about spending, and are increasingly holding onto their existing smartphones for longer periods of time.
As a result of the declining market, smartphone manufacturers are expected to be more cautious in their product launches and marketing strategies in 2023. They are also expected to focus on more affordable models in order to appeal to cost-conscious consumers.
Despite the gloomy outlook for the global smartphone market, there are some bright spots. For example, the 5G smartphone market is expected to continue to grow in 2023. However, this growth is not expected to be enough to offset the decline in the overall market.
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