Smartphone market declines slightly in Q3 2023, but emerging markets see growth

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The global smartphone market declined slightly in the third quarter of 2023, according to a report by IDC. Learn more about it here.

The global smartphone market declined slightly in the third quarter of 2023, but there are some positive signs that suggest recovery is on the horizon., smartphone shipments fell 0.1% year-over-year to 302.8 million units in Q3. This was due to a number of factors, including soft demand, inflation, and geopolitical tensions.

However, there were some bright spots. Shipments grew in emerging markets like the Middle East and Africa , Latin America , and Asia/Pacific . Additionally, the high-end market continued to flourish, driven by generous trade-in and financing options in many developed markets. Regionally, China saw the biggest decline in shipments, with a 6.3% year-over-year drop. This was followed by Europe, Japan, and the U.S., which saw declines of 8.6%, 5.3%, and 1.1%, respectively.

However, emerging markets like MEA, LA, and Asia/Pacific saw shipment growth of 18.1%, 8.2%, and 1.3%, respectively. Overall, the smartphone market is still facing some challenges, but there are also some positive signs. The growth in emerging markets and the continued strength of the high-end market suggest that recovery is on the horizon.iQOO 12 Series Design Officially Revealed Ahead Of Next Week’s LaunchGizmochina brings you the best of Chinese Tech from emerging smartphone companies, innovative startups, to crazy smart home products and revolutionary technologies.

 

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