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Global Smartphone Market 2022 in Review and Outlook for 2023

Jan 18, 2023 | Author : Varun Mishra


In 2022, the Global Smartphone Market had to navigate muted demand, high inflation, rocketing energy prices, uncertain macroeconomic and geopolitical conditions, and the COVID situation in China. Global smartphone sales declined year on year (YoY) every month until November 2022 and likely declined again in December. Most of the factors responsible for this decline, are likely to keep on impacting the market in H1 2023.

As we enter the new year, this report assesses 2022 and analyzes some of the key factors to look out for in the smartphone market in 2023.

Table of Contents:

  • Global Smartphone Market: 2022 in Review and Beyond
  • Inventory situation improving, but China market clouded with uncertainties          
  • China: Exit wave worse than expected, another round of inventory corrections may happen           
  • India: Shipments falter towards year end              
  • US: Longer holding periods, changes in consumer behaviour will lead to squeezed margins for carriers      
  • US$1000 and above market grows driven by Apple 
  • Manufacturing diversification to gain pace in 2023           
  • Foldables: An established niche as cumulative shipments exceed 20 Mn in 2022 
  • Chinese OEMs pour efforts into chip development            
  • System on Chip: From undersupply to oversupply in a year            
  • Sustainability: Gaining traction  
  • Counterpoint Macro Index: Subdued sentiment likely to persist for a few months yet        
  • Smartphone market likely declines in 2022, but ASPs to reach record levels   

Number of Pages: 11

Published Date: January 2023


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