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This Year’s Global Smartphone Shipments Reach 1.24 Billion Units... 11% Decrease from Last Year

Smartphone Market Struggles to Continue Until First Half of Next Year
Next Year's Shipments to Reach 1.26 Billion Units, Up 2% from Previous Year

This Year’s Global Smartphone Shipments Reach 1.24 Billion Units... 11% Decrease from Last Year

[Asia Economy Reporter Lim Hye-seon] This year, global smartphone shipments are expected to decrease by more than 10% compared to last year.


On the 2nd, market research firm Counterpoint Research forecasted in its smartphone market outlook report that this year's smartphone shipments will decline by 11% year-on-year to 1.24 billion units.


Counterpoint Research analyzed that global inflation has dampened consumer purchasing sentiment, and manufacturers are facing pressure on smartphone production costs, which has impacted the market.


Peter Richardson, Vice President of Counterpoint Research, explained, "Due to difficult external factors such as inflation, additional interest rate hikes, and China's lockdowns, damage to the mid-to-low-end smartphone market is inevitable," adding, "The relatively resilient premium smartphone market is expected to remain steady."


Counterpoint Research expects this trend to continue until the first half of next year. They also forecast that next year's smartphone shipments will increase by 2% year-on-year to 1.26 billion units. Senior analyst Lee Yoon-jung stated, "Considering the rising average selling price (ASP) and the lengthened replacement cycle compared to before, it will be difficult for the smartphone market size to recover to pre-COVID levels in the near term," adding, "This year’s smartphone replacement cycle is estimated to have reached a record high of 43 months."


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