Worldwide smartphone shipments declined 7.8 per cent year over year to 265.3 million units in the second quarter of 2023 (2Q23), according to preliminary data from the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker.
While this marks the eighth consecutive quarter of contraction as the market struggles with soft demand, inflation, macroeconomic uncertainties, and excess inventory, the rate of decline is slowing compared to previous quarters.
The top three companies – Samsung, Apple, and Xiaomi – retained their relative positions, though each experienced a drop in shipments year over year.
“The good news is that inventory levels are improving and the latest market chatter suggests that, by Q3, excess inventory in finished devices and components should clear up,” said Nabila Popal, research director with IDC’s Mobility and Consumer Device Trackers.
“As inventory levels normalize, we are finally hearing optimism from key OEMs and supply chains and expect the market to return to growth by the end of the year and into 2024. As the market ramps back up, it is also an opportunity for vendors to gain share. IDC expects a shift in the vendor rankings at the bottom of the stack, as we already see happening this quarter with Transsion entering the Top 5 for the first time.”
