Analysts record drop in worldwide smartphone sales

Worldwide smartphone shipments declined 14.6% year over year to 268.6 million units in the first quarter of 2023 (1Q23), according to preliminary data from the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker, Report informs referring to the IDC website.

This marks the seventh consecutive quarter of decline as the market continues to struggle with lukewarm demand, inflation, and macro uncertainties.

Samsung has become the main supplier of smartphones in the first trimester of 2023. The company shipped 60.5 million devices, down 18.9% from a year earlier. One way or another, Samsung now has the largest market share - 22.5%.

Apple ranks second. The company shipped 55.2 million iPhones (-2.3%) and took 20.5% of the market. It was followed by Xiaomi with a supply of 30.5 million smartphones (-23.5%) and a share of 11.4%. The top 5 also included Oppo and Vivo with shares of 10.2% and 7.6%, respectively.

Analysts believe that the ongoing market downturn is manageable. Manufacturers continue to sell off stocks of old devices, while being cautious with the production of new ones.