Global smartphone production hits a 10-year low

September 5, 2023  18:12

In the first half of 2023, the total production of smartphones was 522 million units, which is 13.3% less compared to the same period of the previous year, according to a new report by the TrendForce analytical company.

Of the mentioned 522 million smartphones, 272 million were released in the second quarter of 2023. This indicator is 6.6% less than the one of the previous quarter. At the same time, in the first quarter, the result was almost 20% lower compared to the previous year. TrendForce notes that both the first half of the year and the second quarter of 2023 are the worst in the history of the smartphone industry in the last 10 years.

Analysts point out three main reasons for the decline in the smartphone market. The first is that after the easing of epidemic restrictions in manufacturing centers in China, high demand has not recovered. The second is the slow development of demand from India, which many manufacturers have been counting on. The third is the large stocks of devices produced in factories, which are not being consumed very well due to the difficult global economic situation.

Samsung, Apple and Xiaomi continue to be the industry leaders in the second quarter. The share of companies in the global market was 19.8%, 15.4% and 12.9%, respectively. Oppo (12.3%), Transsion (9.2%) and Vivo (8.5%) followed.

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