Global smartphone market to gain momentum only in second half of 2023: Report
The global smartphone market remains challenged and will strengthen in the second half of the year as channel inventories reach healthier levels, the report shows.
According to the market research company Canalys, deliveries will stabilize at the level of 2022 when we move to the middle of 2023.
“The warming rates will start to improve soon, although this is more related to the narrowing of the sharp contrast between 2022 and 2023,” said research analyst Lucas Zhong.
Suppliers approach the market cautiously, focusing on profitability goals, lean operations and inventory clearance.
Global smartphone shipments fell 13 percent to 269.8 million devices in the first quarter of 2023.
Samsung regained its pole position and shipped 60.3 million units thanks to a revamped product line-up.
Apple came in second with 58 million shipments. It was the only top five supplier to grow from the previous year, giving it a strong 21 percent market share.
Xiaomi defended its third position with 30.5 million shipments, while OPPO and vivo rounded out the top five with 26.6 million and 20.9 million units respectively, securing 10% and 8% market share.
“Samsung’s performance shows early signs of recovery after a difficult end to 2022,” said Canalys analyst Runar Bjorhovde.
“The recovery is particularly related to product launches, which increased sales volumes. Still, Samsung will have to navigate a difficult landscape going forward, especially as the entry-level lineup remains high,” Bjorhovde added.
The mid-priced segment has started to recover after last year’s huge declines.
“However, mid-range demand will remain constrained in 2023 due to macroeconomic challenges and missing differentiators in this price range,” Zhong said.
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