Expectations of a decline in smartphone sales in 2023

Expectations of a decline in smartphone sales in 2023

Expectations of a decline in smartphone sales in 2023

IDC, a market research firm, expected a decline in global smartphone sales during 2023 to 3.2%, in light of the increase in inflation rates and the rise in prices of various goods and services.

The corporation noted that total sales of smartphones are expected to reach 1.17 billion devices, while other reports indicated a decline in sales during the first quarter of the current year 2023, by 14% on an annual basis.

She pointed out that smart phone sales will rise again during the next 2024, by 6% on an annual basis, provided that the recovery wave will continue during the following years, so that smart phone sales will reach about 1.4 billion devices by 2027.

It also expected that shipments of foldable phones worldwide would reach 21.4 million units in 2023, an increase of more than 50% over the 14.2 million units shipped in 2022.

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