Smartphone production hits ten-year low

Smartphone production hits ten-year low

Market news |
By Peter Clarke

The global production of smartphones in 1Q23 was 250 million units, down 19.5 percent on a year before, according to TrendForce.

The market researcher attributed the decline to a continuing global economic decline. TrendForce predicts a slight increase in production in 2Q23 to reach 260 million units.

Market leader Samsung was able to post a sequential increase in production in 1Q23 due to the launch of the Galaxy S23. It produced 61.5 million units a 5.5 percent increase compared with the previous quarter. However, sales were still down 16.7 percent year-on-year.

Global market share of top five smartphone brands 1Q23. Source: TrendForce.

The decline hit second-tier makers Oppo and Xiaomi even harder with drops of 33.8 and 40.4 percent, respectively.

The continuous economic slump has led to increased activity in the used phone and repair markets, which could potentially hinder Q2 smartphone production growth, TrendForce said.

Related links and articles:

News articles:

Memory prices expected to fall further in 2Q23

China’s chip, electronics manufacturing fail to rebound

If you enjoyed this article, you will like the following ones: don't miss them by subscribing to :    eeNews on Google News


Linked Articles