According to the latest IDC report, global smartphone shipments in the fourth quarter of 2022 (4Q22) fell 18.3% year-on-year to 303 million units. The decline was the largest ever in a single quarter and contributed to a sharp 11.3% decline for the year. In 2022, shipments were 1.21 billion units. This represents the lowest annual shipments since 2013 due to a significant drop in consumer demand, inflation and economic uncertainty. This tough end to 2023 seriously jeopardizes the expected 2.8% recovery in 2023 and poses significant downside risks to the forecast.
Nabila Popal, Research Director at IDC: “Holiday season shipments have never been lower than last quarter. Rather than expedite shipments, it has helped deplete existing inventories, with vendors becoming increasingly cautious about shipping and planning while realigning their focus on profitability.. Even Apple, which seemed unaffected so far, suffered a setback in its supply chain due to an unexpected shutdown at its main factory in China. ”
Still, Apple was the undisputed champion for Q4 2022. Apple achieved his 24.1% market share in Q4 2022 compared to his 23.1% in Q4 2021. We could only imagine the positive growth Apple could have provided were it not for the COVID lockdowns.
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Read the full IDC report to learn more.