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MOBILE DEVICE OUTLOOK December 2023 Update (Model Level Forecast)
Overview:
Annual smartphone shipments are forecast to decline 5.3% to 1.16 billion units in 2023, the lowest in a decade, as macroeconomic headwinds and consumer weakness continue to pressure the sector across the year. However, Q3 ended slightly stronger than our earlier expectations, signaling an easing in the rate of decline. Bolstered by regional recoveries and new product upgrade demand, the global smartphone market declined by 1% YoY to 299.8 million units in Q3 2023 ahead of the sales seasons.
- Unlike last year, Apple appears to have had no major issues with the initial supply of the iPhone 15 series, and mobile carriers will be eager to steal high-value consumers from competitors in the fourth quarter of 2023. And with the large iPhone 12 installed base likely ripe for upgrades, promotions are expected to be aggressive to prompt renewal, giving Apple a good presence in key regions.
- Samsung will continue to lead the foldable market with about 45% market share in 2024. Due to increasing market share of Chinese player like Huawei, HONOR and OPPO in this segment Samsung's market share is expected to gradually decline.
In this report, we forecast the quarterly shipment of key smartphone models by major OEMs – Apple, Samsung, Huawei, Honor, Xiaomi, OPPO, Vivo, Oneplus, Motorola, Google, and Sony - until Q4 2024 and it focuses on giving a detailed view of flagship shipments globally.
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Category
Industry
Mobile and Telecom
Report Type
Report
Time period
Quarterly
Summary
Published
Dec 18, 2023
Author
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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