Third-quarter and fourth-quarter 2022 global smartphone shipments are set to come to 277 million units and 311 million units, respectively, each showing a double-digit on-year decline, according to DIGITIMES Research's latest report on the global smartphone market
The quarterly declines in the second half of 2022 were a result of rising inflation plaguing most parts of the world, US interest rate hikes leading to the soaring US dollar while taking a toll on consumer purchasing power in the rest of the world, and the weakening global economy and market confidence dampening phone upgrades during the period, the report noted.
Compared to the forecast DIGITIMES Research made in October, DIGITIMES Research has adjusted the projections on 2022 and 2023 global smartphone shipments downward by 11 million units and 12 million units to 1.165 billion units and 1.191 billion units, respectively, said Luke Lin, Senior Analyst of DIGITIMES Research and the composer of the report.
Third-quarter and fourth-quarter 2022 smartphone shipments to China have also been lowered to 58.4 million units and 61.7 million units and the on-year decline widened to 20.5% and 24.3%, respectively, Lin noted.
Compared to the previous forecast of 610 million units, DIGITIMES Research has also adjusted the projection on 2022 global 5G phone shipments to 595 million units. The downward adjustment is mainly due to a reduction of 10 million units in the shipments to markets outside of China from the previous forecast. The projection on 2023 global 5G phone shipments has also been lowered to 740 million units, Lin added.
Global smartphone shipments, 3Q21-4Q22 (m units)
Source: DIGITIMES Research, January 2023