global smartphone market

There is a decline in the global smartphone market by 14% this Q1 2023. Reported by Counterpoint Research, they have reported that there is a 14% decline in the global smartphone market alongside a 7% decline in each quarter.

“Smartphone shipments declined further in Q1 2023 following the weakest holiday-season quarter since 2013, as the slower-than-expected recovery in China was marred by alarming bank failures on both sides of the Atlantic further weakening consumer confidence in the face of unrelenting market volatility. The smartphone market was also hit by some major brands supplying fewer new devices to a market struggling with high inventories at a time when consumers are choosing to renew less often, but with more durable smartphones when they do buy,” stated by Counterpoint's Senior Analyst Harmeet Singh Walia. Apple also has the highest Q1 share with 21% Another thing Counterpoint reported is that the revenue for global smartphones is reduced by 7% or ranging at around $104 billon.

Our coverage of global smartphone market includes: "Xiaomi Overtakes Apple to Become World’s No. 2 Smartphone Brand in August"; "Global smartphone market declines 14% in Q1 2023"; "OnePlus Watch Lite now official". Each article provides unique insights and information.