International Data Corporation (IDC) has reported that global smartphone channels have once again experienced a decline in shipments. Global shipments of smartphones in the second quarter of 2023 have declined by 7.8% year-on-year. Although there is hope for next year. Continue reading to know more.
DON'T screw up your next smartphone purchase – 2024 smartphone guide!
This reported decline has resulted in the shipment of 265.3 million units. It's not new because the global delivery channels have been getting this kind of blowback for the past eight quarters, including this one. On the one hand, this indicates weak market demand with rising inflation and reduced consumer purchasing power. On the other hand, this contraction is also a sign that the global market is stabilizing with increased opportunities for manufacturers to get rid of their excess inventory.
The biggest decrease in global demand has been experienced by Xiaomi at -16.0% followed by Samsung at -15.2% and Apple at -6.3%. China has also suffered a 2.1% year-on-year decline in the second quarter of 2023. Other major regions that saw a decline include Asia/Pacific (excluding Japan and China) at 5.9%, the US and Europe at 19.1% , and the Middle East and Africa at 3.1%.
That said, Samsung has continued to be at the top with a market share of 20.2%, followed by Apple (16% share), Xiaomi (12.5% share), Oppo (9.6% share) and Transsion Holdings (9 .5% share) .
