Counterpoint released an analysis report today saying that the smartphone market will remain flat year-on-year in 2023. Inventories will be adjusted in the first half of 2023, while demand is expected to pick up in the second half of 2023. Excess smartphone AP/SoC inventory is expected to return to normal levels by the end of the second half of 2023.
The report noted that the semiconductor industry is currently showing cyclical rather than structural weakness. The market is expected to be sluggish in the first half of 2023; growth is expected in the second half of 2023 as OEMs begin to replenish inventories and prepare to release flagship products.
Counterpoint said that in addition to high-end chips, Qualcomm also has opportunities in the mid-to-low-end AP/SoC market, which is more affected than the high-end market. Qualcomm will try to regain some of the mid-to-low-end market share from MediaTek.
In addition, the report said that Qualcomm’s acquisition of NUVIA, which can customize CPUs and designs, in 2021, and has developed a customized version of the Oryon CPU based on the ARM platform, which will further drive growth. Counterpoint expects Arm-based laptops to have a 25% market share within five years.
According to the financial report, Qualcomm’s fiscal year 2022 achieved revenue of US$44.200 billion currently about 304.096 billion CNY), a year-on-year increase of 32%; net profit of US$12.936 billion (currently about 89 billion CNY), a year-on-year increase of 43%.
