TechInsights: Global smartphone shipments are expected to drop 1% year-on-year in 2023

Recently, TechInsights (formerly Strategy Analytics) released a report saying that global smartphone shipments are expected to decline slightly in 2023, down 1% year-on-year , and will increase 3% year-on-year in 2024. Global handset shipments will decline 4% year-on-year in 2023 and rebound to 2% year-on-year in 2024.

The report states that from a regional perspective, except for Africa and the Middle East, which suffered from catastrophic earthquakes in Turkey and its surrounding countries and poor macroeconomic conditions, all other regions have seen upward revisions. However, North America will be the only region to achieve moderate growth in 2023. All other regions will enter a recessionary trajectory. By 2024, all regions are expected to return to growth mode .

TechInsights said Samsung and Apple will continue to lead the market with increased market share . Leading Chinese vendors will continue to face strong headwinds in 2023 before shifting to an upward trajectory in 2024.

By 2023 and 2024, the top ten smartphone vendors will account for 92% of the global smartphone market share . Industry consolidation continues.

From IT Home