Global smartphone shipments have decreased by 13% in the first quarter of 2023, Bebom tells us in a report.
The report notes that this marks the fifth consecutive quarter of decline, with limited consumer demand, inventory build-up, and supply-chain issues due to the Covid-19 pandemic contributing to the decline.
Smartphone Market Players Hold On
With 60.3 million smartphone shipments, Samsung regained its position as the market leader, accounting for 22% of the market. The company's redesigned Galaxy S and Galaxy A portfolios enabled it to recover quarter over quarter.
Apple, on the other hand, was the only major brand that improved, with a 3% year-on-year increase in iPhone shipments thanks to the popularity of its iPhone 14 Pro series. Apple now has a 21% market share and shipped 58 million iPhones in the first quarter of 2023.
These numbers are from the latest global smartphone market report by Canalys.
Xiaomi, Oppo, and Vivo came in third, fourth, and fifth place, with 11%, 10%, and 8% market share, respectively. Xiaomi saw the greatest year-on-year decrease in market share, while Oppo and Vivo strengthened their positions in the Asia Pacific region and their home markets.
Smartphone Market Recovery on the Horizon?
Canalys expects that the smartphone market will soon see an upsurge in sales. Although global smartphone shipments continued to fall in the first quarter of 2023, Samsung's quarter-on-quarter recovery and Apple's growth provide reasons for cautious optimism.
"The smartphone market's decline in the first quarter of 2023 was within expectations throughout the industry," said Canalys Analyst Sanyam Chaurasia.
"The local macroeconomic conditions continued to hinder vendors' investments and operations in several markets," the analyst further explains.
However, Canalys Analyst Toby Zhu noted that there had been improvements in demand for certain smartphone products and price bands.
Furthermore, some smartphone vendors are becoming more involved in production planning and component ordering. Canalys forecasts that the smartphone industry's inventory will be pretty healthy by the end of the second quarter of 2023.
The Q1 2023 report highlights the continued challenges faced by the global smartphone market. However, the positive growth experienced by Apple and Samsung's recovery offers some hope for the future.
A Different Outlook
Meanwhile, Bloomberg reports that Sony Group Corp.'s President and COO Hiroki Totoki believes the smartphone market will remain subdued for the following year.
As the world's leading supplier of smartphone image sensors, Sony has a unique perspective on device inventory and demand among top manufacturers worldwide. Following its latest earnings report, the company recently provided a conservative forecast for its performance and the global economy.
According to Totoki, particular areas of built-up oversupply will pressure already strained handset makers. "We are not optimistic about the smartphone market outlook this year," Totoki stated during a call with investors and analysts.
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