According to the most recent report from Canalys, there was a further decline in worldwide smartphone shipments during the January-March quarter. Approximately 269.8 million units were shipped during this time, which is a 13% drop compared to the same period last year. This trend of declining sales has been ongoing for several quarters and is attributed to a combination of factors, including excess inventory and reduced customer demand.
Specifically, phone users around the world are holding onto their devices for extended periods. This is because modern phones have improved significantly, with better chipsets, camera performance, and software that can last for years without showing signs of deterioration. As a result, while phone manufacturers update their devices once or twice a year, only a small percentage of people feel the need to upgrade. Besides, economic constraints such as inflation have forced people to use their phones longer, considering that smartphones are currently very expensive.
Back to the numbers, Samsung led the global smartphone market in Q1 2023, shipping 60.3 million units, which is 22% of the global market share. This is due to the success of their new Galaxy S and Galaxy A series. Apple came in second with 58 million shipments and 21% market share, thanks to the strong demand for their iPhone 14 Pro series. Xiaomi came in third with 30.5 million shipments and 11% market share, but they also saw the largest decline in market share.
OPPO and vivo secured the fourth and fifth positions in terms of smartphone shipments with 26.6 million and 20.9 million respectively, accounting for 10% and 8% of the market share. Canalys analysts anticipate that original equipment manufacturers (OEMs) will experience some favorable momentum in the second half of the year, as channel inventory levels become more stable.
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