Market research agency IDC revised its previous forecast for global smartphone shipments, believing that the market recovery cycle will be longer than previously estimated.
IDC estimates that global smartphone shipments in 2023 will be 1.19 billion units, a year-on-year decrease of 1.1%. Previously, IDC predicted that global smartphone shipments would grow by 2.8% in 2023. IDC believes that the smartphone market will not really recover until 2024.
Nabila Popal, Research Director, IDC Mobile and Consumer Device Trackers commented as follows:
"OEMs remain cautious about shipments into 2023 as costs increase and consumer demand continues to challenge. There is still a lot of uncertainty and a lack of trust in the smartphone industry, which leads to a cautious outlook. IDC believes that once we overcome these short-term challenges, the global market will return to growth in 2024. Consumer refresh cycles in developed markets are pent-up, and there is room for secular growth in smartphones in emerging markets."
Android devices are expected to experience a larger percentage decline in shipments this year than iOS devices. Android device shipments will drop 1.2 percent, while iOS device shipments will drop 0.5 percent, IDC said.
