Global Smartphone Shipments Expected to Drop by Double Digits in Q1 2023

According to Digitimes Research, global smartphone shipments totaled above 300 million units in Q4’22 and are projected to decrease to around 260 million units in Q1’23, representing a double-digit sequential drop in both quarters. The decline is attributed to rising inflation, weakening consumer purchasing power, and the banking industry’s bankruptcy crisis. New data coming in has lowered whole-year 2022 and 2023 global smartphone shipment forecasts by four million units and 66 million units, respectively. The firm also adjusted its estimates on Q4’22 smartphone shipments in China upwardly to 70.8 million units but lowered the shipments in markets outside of China. For global 5G smartphone shipments, it is estimated that whole-year 2022 volumes at 589 million units, down from the earlier forecast of 595 million units, and whole-year 2023 shipments at 679 million units.