According to Strategy Analytics (TechInsights)’s Wireless Smartphone Strategies (WSS) service research report, global smartphone sales volume will fall -9% YoY and -5% YoY in 2022 and 2023 respectively under the neutral scenario. We expect both handset and smartphone will continue the downturn track in 2023, due to the evolving situation of Ukraine-Russia war, China’s COVID policy and the manufacture disruption, as well as mixed consumer demands amid global high inflation rate and economic uncertainties. 2023 will hit the bottom over the past ten years.
We expect all regions will follow the downturn track in 2023, the rebound is expected from 2024 on assuming no major disruptions externally. By 2025, global smartphone market will back to pre-COVID level. It will take five years for the industry to completely recover from the hit of COVID and geopolitical issue.
China, India and the USA will remain as the top three largest smartphone market by 2027. World’s top-10 countries of smartphone sales will include China, India, USA, Brazil, Indonesia, Japan, Germany, Russia, UK and Mexico in 2022.
Wireless Smartphone Strategies (WSS) clients can find the answers of all questions, and much more, in the full report here.