The smartphone market is the worst it’s been in a decade
Every year, companies release brand new phones with new and improved hardware and software, but have we gotten to the point where things are now feeling a bit “boring”? That might be the case, if the numbers are correct.
According to the data from the International Data Corporation (IDC), they have found that smartphone shipments have declined by almost 20% year-over-year. This makes it the worst the market has been since 2013.
Breaking those numbers down by their companies, Apple saw a decline by 15%, Samsung by 15.6%, and Xiaomi by a whopping 26.3%. It should be noted that these are three of the biggest vendors in the world, so the decline by those companies essentially amounts to millions of phones.
In total, the number of smartphones shipped in 2022 was 1.21 billion, which sounds like a lot, but it is the lowest figure since 2013. There are a bunch of reasons why this is the case, and according to the IDC, they factor in things like inflation and lower consumer demand. The IDC is also pessimistic about the future and don’t think that the market will recover in 2023.
The upside though, is that due to falling demand, companies might try to entice customers with lucrative deals and offers, so this might be a good year to upgrade if you’re trying to get more bang for your buck.
Source: Mobile Syrup