This year will be the worst year for the smartphone

This year will be the worst year for the smartphone market in a decade, but manufacturers are comforted by rising prices

The weakness of the global economy and high inflation forced the IDC experts to downgrade their own forecast for the dynamics of smartphone sales this year. While year-to-date sales of these devices were initially forecast to fall by 3.2%, the target has now been lowered to 4.7%, making this year the worst period for the smartphone market in a decade.

    Image source: Apple

Image source: Apple

As mentioned cnet Referring to the current IDC report, analysts now expect to sell no more than 1.15 billion smartphones by the end of the year. On the one hand, stocks of finished products in this segment have already returned to normal. On the other hand, smartphone makers are still reluctant to ramp up production volumes, delaying the market recovery.

At the same time, consumers’ desire to use their smartphones longer turns out to be an unobvious benefit for manufacturers, as buyers are willing to pay for more expensive models whose performance and functionality are sufficient for longer periods of use. According to the results of the current year, the average selling price of a smartphone is likely to increase to $430, compared to $388 in 2021. IDC experts predict that next year the smartphone market will grow again and sales will increase of 4.5% is recorded. In general, they will grow by an average of 1.7% per year until 2027.

According to IDC, market dynamics will continue to be uneven for all participants this year. If sales of devices running Google Android fall 6%, Apple will see iPhone sales up 1.1%. As a result, smartphones with iOS can increase their market share to a record 19.9%. In the event of a successful debut of the iPhone 15 next month, Apple can claim the status of the largest smartphone vendor in the world this year.

About the author

Johnson Smith

Johnson Smith is interested in Home Theater & Audio, Smart Tech, Google News & Products, How To, Apple News & Products, Cell Phones, Automotive Technology.

Add Comment

Click here to post a comment