Smartphone sales expected to decline in 2023, rebound expected in 2024

According to the latest estimates from IDC (via Cnet), 1.17 billion smartphones should be distributed worldwide this year, 3.2% less than in 2022. A decline due to the current inglorious economic conditions . However, business is expected to pick up next year and 6% growth is expected in 2024.

Recovery in 2024, especially in the foldable smartphone segment

In particular, an increase in the market share of smartphones with foldable screens would be observed in 2024. Good news for Samsung - sector leader - but also for other players such as Honor, Huawei, Motorola, Oppo, Tecno, Vivo, Xiaomi, and more recently Google. OnePlus is expected to launch its first model this year, and Apple is still missing out in this area.

The word to Nabila Popal, research director at IDC

“If 2022 was a year of excess inventory, 2023 is a year of caution,” explains Nabila Popal of IDC. While everyone wants to have enough inventory to ride the inevitable wave of recovery, no one wants to end up with a surplus of product for too long. It also means that brands that take a risk – at the right time – can potentially capture significant market share.”