TechInsights has bumped up 2023 smartphone shipments forecast numbers in its latest report, considering the reopening of China, the slowing interest rate increase by the Fed, and the better-than-expected economy outlook in Europe.
In 2023, Global smartphone shipment is expected to fall slightly at -1% YoY, followed by a rebound of +3% YoY in 2024. Handset worldwide shipment will decline -4% YoY in 2023 and rebound at +2% YoY in 2024.
Regionally speaking, except Africa & Middle East which was hit by the tragedy earthquake in Turkey and surrounding countries as well as poor macro-economic conditions, all other regions‘ numbers have been tweaked up. However, North America would be the only region to post a modest growth in 2023. All other regions will follow the downturn track. In 2024, we expect all regions will back to the growth pattern.
Samsung and Apple will continue leading the market with gained market share. Leading Chinese vendors will continue to face strong headwinds in 2023, before turning into upwards track in 2024. Global top-10 vendors combined will account for 92% of global smartphone market share in 2023 and 2024. Industry consolidation continues.
For more detailed information, please read our latest report Global Smartphone Shipments Forecast by Vendor by Region by Quarter
