IDC disaster in smartphone sales, the consumer benefits

Η International Data Corporation released its latest numbers for global smartphone sales in Q4 2022. Shipments fell 18,3% year-over-year, marking the biggest drop ever seen in a quarter.

smartphones

Q4 led the full year to an 11,3% decline. With total shipments of 1,21 billion phones for the year, IDC reports that it was the lowest annual total shipments since 2013:

Rounding out the top five for Q4 2022 – in order, were Apple, Samsung, Xiaomi, Oppo and Vivo. Apple appears to have been less affected, but not much less, after posting a 14,9% year-over-year decline for Q4 2022.

Samsung fell 15,6% and the big loser was Xiaomi, which fell 26,5%. For 2022, Samsung continued to hold the No. 1 position with a market share of 21,6%, Apple was the No. 2 company with 18,8%, and Xiaomi ranked third with 12,7%.

IDC reports that consumers are holding on to smartphones longer than ever now, with "renewal rates" "exceeding 40 months in most major markets."

The report closes by saying:

“2023 is set to be a year of caution as vendors will review their device portfolio, and think twice before taking on too much inventory. However, consumers may find even more generous offers to continue in 2023 as the market considers new methods to increase upgrades and sell more devices, especially on high-end models.”

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smartphone, smartphone sales

Written by giorgos

George still wonders what he's doing here ...

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