Canalys Global smartphone market to rebound in 2023, sales expected to increase by 4% next year.

Canalys' Report Predicts Global Smartphone Market to Bounce Back in 2023, Anticipates 4% Surge in Sales Next Year.

【Phone China News】According to the latest report released by market research firm Canalys, as 2023 is approaching its end, global smartphone shipments are expected to recover to a certain extent this year and in the next four years.

The report predicts that global smartphone shipments in 2023 will reach 1.13 billion units, a decrease of 5% compared to 2022. Latin America, Africa, and the Middle East markets are expected to achieve growth rates of 2%, 3%, and 9% respectively. The report points out that 2024 will be a turning point for the smartphone market, with global smartphone shipments expected to reach 1.17 billion units, a year-on-year increase of 4%. This will be the first positive growth since 2019, reflecting the recovery in consumer demand and confidence in smartphones.

• Redmi K70 series officially announced to be released on the evening of November 29th, a flagship with top-notch cost-performance ratio!
• Global smartphone sales in October increased by 5%, experiencing a rebound after a two-year period.
• Apple iPhone significantly reduces prices for sales. Second-hand dealers lose 1 million yuan every month.

The report also analyzed changes in the average selling price and regional distribution of smartphones. The report shows that consumers are willing to spend more money on smartphones. The current average selling price of smartphones is $440 (approximately 3,143 RMB), compared to $332 in 2017. In addition, emerging markets will become the focus of growth in 2024. It is estimated that the Asia-Pacific region (including markets such as India, South Korea, Vietnam, Indonesia, and Malaysia) will account for 33% of global smartphone shipments in 2024. The report believes that the improvement in macroeconomic conditions and consumer confidence in these markets will help stabilize smartphone shipments.

Except for North America, all major markets are expected to achieve growth in 2024. The Asia-Pacific region, the Middle East, and Africa are expected to achieve year-on-year growth rates of 6%, while Europe is expected to achieve 7% year-on-year growth. Canalys also predicts that the demand trend for smartphones will continue to rise in the coming years, with global smartphone shipments reaching 1.25 billion units by 2027.

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