Global smartphone shipments hit 2023 peak in 4Q23, but decelerate in 1Q24 due to seasonality, says DIGITIMES Research

Luke Lin, DIGITIMES Research, Taipei 0


DIGITIMES Research's latest report on the global smartphone industry shows that global smartphone shipments totaled around 330 million units, rising 6.5% on year.

Although Inflation is unlikely to cease anytime soon, consumers are already seeing product price hikes decelerate. With that, the China market as well as emerging markets such as Southeast Asia, Latin America, and Africa continued to enjoy an economic recovery in the fourth quarter of 2023.

Global smartphone shipments are expected to hit slightly above 270 million units in the first quarter of 2024, representing a 2.7% on-year growth, the report's figures show.

Compared with the forecast DIGITIMES Research made in November, global smartphone shipments in 2023 were adjusted to around 1.13 billion units in 2023, an upward revision of 21.9 million units, while the shipments for 2024 are expected to go up to 1.18 billion units.

In terms of only smartphone shipments in China, compared with the forecast made in November, DIGITIMES Research has increased its estimate on fourth-quarter 2023 shipments to 78 million units, an on-year growth of 10.4%. Outside of China, because of the sales recovery in emerging countries, shipments have been adjusted upward by DIGITIMES Research to nearly 250 million units, an annual increase of 5.3%.

As for global 5G smartphone shipments, DIGITIMES Research raised its forecast for 2023 shipments to 576 million units compared to the 564 million units projected in November, showing a 2.2% decline from 2022. The shipments for 2024 are estimated to have totaled 739 million units.