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The decline in the global smartphone market narrowed to 5% in Canalys:2023, showing the dawn of recovery

2024-04-23 Update From: SLTechnology News&Howtos shulou NAV: SLTechnology News&Howtos > IT Information >


Shulou( Report--, November 27, Canalys today released forecast data that the global smartphone market will show preliminary signs of recovery in 2023 after a sharp decline of 12% in 2022.

Although shipments are expected to fall by 5 per cent in 2023, the downward trend has slowed. This year, regions such as the Middle East, Africa and Latin America will return to growth, with increases of 9 per cent, 3 per cent and 2 per cent, respectively.

Canalys expects smartphone shipments to reach 1.13 billion in 2023 and grow by 4% to 1.17 billion by 2024. By 2027, the number will reach 1.25 billion, and the compound annual growth rate will be 2.6% in 2023-2027.

"although the market is still below its 2017 peak of more than 20 per cent, the smartphone industry is emerging from its most difficult phase," said Zhu Jiajie, a senior analyst at Canalys. The good news is that consumers are giving smartphones unprecedented value. At present, the average selling price of a smartphone has exceeded $440 ( Note: currently about 3146 yuan), compared with just $332 in 2017 (currently about 2374 yuan). In key growth markets, profitability is gradually improving for manufacturers that strategically introduce novel features. "

In 2024, as business conditions improve, Chinese manufacturers such as Glory, Chuanyuan and Xiaomi will actively deploy overseas markets rather than adopt defensive strategies, although geopolitical uncertainties remain, market competition will become fiercer, especially in high-growth emerging markets. Optimism is still growing in channels, manufacturers and supply chains.

Sanyam Chaurasia, senior analyst at Canalys, said: "the rebound in the smartphone market in 2024 will benefit from emerging markets, where smartphones remain a key component of connectivity, entertainment and productivity. In 2024, one out of every three smartphones came from the Asia-Pacific region, up from 1/5 in 2017. Among them, demand in India, Southeast Asia and South Asia is recovering, and the Asia-Pacific region will grow at a rate of 6%. As the macroeconomic situation and consumer confidence in these countries stabilize, the frequency of smartphone replacement or upgrade will be accelerated. "


Canalys predicts that the decline in the global smartphone market will narrow to 5% in 2023, showing the dawn of recovery.

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