Global smartphone market declines 14% in Q1 2023

There is a decline in the global smartphone market by 14% this Q1 2023. It is also reported that there is a 7% decline quarter-to-quarter, recording 280.2 million unit shipments this quarter.

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.

Source: Counterpoint

Counterpoint also points out that Samsung is currently the top smartphone company in Q1 2023, dethroning Apple. Samsung’s Galaxy A Series and the S23 Series launched this quarter.

Meanwhile, Apple is said to have the least yearly shipment decline among them, Samsung, Oppo, Xiaomi, and vivo. 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 $104PHP 6,103INR 8,814EUR 99CNY 757 billon. Xiaomi, Samsung, and Apple reportedly have an increase in their Average Selling Prices yearly.