Global smartphone shipments declined 7.8 percent on a yearly basis to 265.3 million units in the second quarter of 2023 (April-June), preliminary data from the International Data Corporation (IDC) showed.
International Data Corporation (IDC) is a global market
intelligence and advisory services provider.
With this, it marks the eighth consecutive quarter of
contraction as the market struggles with weak demand, inflation, macroeconomic
uncertainties, and excess inventory. The rate of decline though is slowing
compared to previous quarters, IDC said in a release.
"The good news is that inventory levels are improving
and the latest market chatter suggests that by Q3 excess inventory in finished
devices and components should clear up," said Nabila Popal, research
director with IDC's Mobility and Consumer Device Trackers.
There is an optimism that the market would return to growth
by the end of the year and into 2024, IDC said.
China, according to IDC, witnessed a year-over-year decline
of 2.1 percent in the April-June quarter after five quarters of significant
double-digit contractions.
“While this is better than past quarters, consumer sentiment
and spending remain low,” it said.
The other large regions, including Asia/Pacific (excluding
Japan and China), the US, and Europe, the Middle East, and Africa (EMEA), also
saw shipments decline by 5.9 percent, 19.1 percent, and 3.1 percent
respectively.
"Although the first half of the year has presented many
challenges to the market, we believe that there remains plenty of opportunity
awaiting in the second half of the year," said Anthony Scarsella, research
director, of Mobile Phones at IDC.
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