According to the latest information from the International Data Corporation (IDC), global smartphones experienced a decline in shipments. The latest report indicates that in Q2, 2023 the market has declined by 7.8% on a year-on-year basis (265.3 million units).
“The good news is that inventory levels are improving and the latest market chatter suggests that by Q3 excess inventory in finished devices and components should clear up,” said Nabila Popal, research director with IDC’s Mobility and Consumer Device Trackers. “As inventory levels normalize, we are finally hearing optimism from key OEMs and supply chains and expect the market to return to growth by the end of the year and into 2024. As the market ramps back up, it is also an opportunity for vendors to gain a share. IDC expects a shift in the vendor rankings at the bottom of the stack, as we already see happening this quarter with Transsion entering the Top 5 for the first time.”
Global Smartphone Shipments Declined in Q2 2023
The downfall was faced by Xiaomi at -16.0% followed by Samsung at -15.2% and Apple at -6.3%. China has also suffered a 2.1% year-on-year decline in Q2, 2023. Other major regions that saw contraction include the Asia/Pacific region (excluding Japan and China) at 5.9%, the United States and Europe at 19.1%, and the Middle East and Africa at 3.1%.
Top 5 Companies, Worldwide Smartphone Shipments
- Samsung – 53.5
- Apple – 42.5
- Xiaomi – 33.2
- OPPO -25.4
- Transsion – 25.3
“Although the first half of the year has presented many challenges to the market, we believe that there remains plenty of opportunity awaiting in the second half of the year,” said Anthony Scarsella, research director, of Mobile Phones at IDC. “The foldable market remains an exciting product to consumers, and the arrival of new models and new vendors joining the race will hopefully translate to wider adoption and lower prices. Moreover, we expect the foldable market to grow nearly 50% in 2023 while the total market remains down.”
On the list, Samsung has continued to stay at the top with a market share of 20.2%, followed by Apple (16% share), Xiaomi (12.5% share), Oppo (9.6% share), and Transsion Holdings (9.5% share).