There has been a decrease in the demand for smartphones worldwide. Preliminary data from the International Data Corporation (IDC) suggests that global smartphone shipments in the second quarter (April-June) of 2023 will decline by 7.8 percent year-on-year. According to IDC, smartphone shipments stood at 265.3 million units in the second quarter of the year.
The demand for smartphones is continuously decreasing
This is the eighth consecutive quarter, in which the smartphone market has seen a decline. The market is faltering as it grapples with weak demand, inflation, macroeconomic uncertainties, and excess inventory. However, it is a matter of relief that according to IDC, the rate of decline is slower than in previous quarters. Other large regions including Asia (excluding Japan and China), the Americas and Europe, the Middle East, and Africa also saw shipments decline by 5.9 percent, 19.1 percent, and 3.1 percent, respectively. Explain that International Data Corporation ie IDC is a global market intelligence and advisory service provider.
The good news is that inventory levels are improving and the latest market buzz suggests that excess inventory in finished devices and components should be reduced by the third quarter, said Nabila Popal, Research Director, Mobility and Consumer Device Trackers, IDC. Needed
The smartphone market will be strong by the end of the year
IDC said that it is expected that the market will return to the growth path by the end of the year and by 2024. According to IDC, China saw a year-on-year decline of 2.1 percent in the April-June quarter after five quarters of significant double-digit contraction. Anthony Scarcella, research director of mobile phones at IDC, said that although the first half of the year presented many challenges for the market, we believe that there are still many opportunities waiting in the second half of the year.
(pc phonearena)
