MOBILE DEVICE OUTLOOK December 2022 Update (Model Level Forecast)
Overview:
The global smartphone market declined by 12% YoY despite growing by 3% QoQ to 301.9 million units in Q3 2022. While quarterly growth in Apple and Samsung pushed the global smartphone market above 300 million units, a level it failed to reach last quarter, political and economic instability drove negative consumer sentiment. Accordingly, the annual smartphone shipment volume is estimated to be 1.24 billion units in 2022, down 11% YoY, with shrinking demand amid rising global uncertainties.
The 2023 smartphone market is expected to be of a similar scale as this year; reaching around 1.26 billion units. As macroeconomic headwinds and consumer weakness continue to pressure the tech sector, the smartphone market is expected to continue underperforming through H1 2023 and only start to grow from Q3 2023. Persistent inflation, expectations of future interest rate hikes, souring corporate earnings, China’s stalled economy, the protracted Ukraine-Russia war, political turmoil in Europe, and a sweeping new set of export controls on China from the US, all contributes to the downward adjustment of the smartphone market forecast. OEMs focusing on the premium segment, which is more resilient than the low to mid-end, are better positioned to deal with these issues, with deep technological expertise and diversified businesses capable of weathering the storm.
In this report, we forecast the shipment of key smartphone models by major OEMs until Q4 2023 and it focuses on giving a detailed view of quarterly flagship shipments globally.
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Sujeong Lim
Sujeong Lim is a Research Analyst at Counterpoint Research based out of Seoul Korea. In Counterpoint, she focuses on mobile ICT industry and mobile device research, especially dedicated on the Korea mobile market. After 10+ years product marketing experience during her working period, she joined Counterpoint to pursue her interest in IoT and emerging future technology.
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