Global shipments of smartphones will decline 3.2 percent in 2023 to 1.17 billion units, IDC report said.
IDC expects a market recovery in 2024 with 6 percent growth.
“Consumer demand is recovering much slower than expected in all regions, including China. If 2022 was a year of excess inventory, 2023 is a year of caution,” said Nabila Popal research director with IDC’s Mobility and Consumer Device Trackers.
“Channel inventory remains elevated in many regions and while things have improved, the confidence from suppliers is still low,” said Ryan Reith, group vice president, Mobility and Consumer Device Trackers at IDC.
“Now is a time to invest in customers and what they need and want. Marketing support, sales incentives, and promotional support should be at the top of that list.”
