Written by Nick Wood for Telecoms.com
Weak consumer demand has led analyst firm IDC to lower its outlook for the global smartphone market.
The picture was already looking bleak back in February, when the same outfit predicted that shipments would fall this year to 1.19 billion from 1.2 billion in 2022. Last week, IDC said that even this forecast was a little optimistic.
“Our conversations with channels, supply chain partners, and major OEMs all point to recovery being pushed further out and a weaker second half of the year,” said Nabila Popal research director for IDC’s Mobility and Consumer Device Trackers, in a research note last week. “Consumer demand is recovering much slower than expected in all regions, including China. If 2022 was a year of excess inventory, 2023 is a year of caution.”
IDC now reckons global shipments will total 1.17 billion, which equates to a 3.2% decline on last year, compared to its previous forecast of a 1.1% decline.
Click here to read the full article.
