The smartphone industry has not yet recovered from the impact of the pandemic in Q1 2023. According to the latest IDC report, smartphone production fell 14.6% last quarter compared to the same quarter of 2022. A total of 268.6 million phones were produced during this period compared to 314.5 million in the same quarter last year.
Samsung still holds the largest market with 22.5% followed by Apple (20.5%), Xiaomi (11.4%), Oppo (10.2%) and Vivo (7.6%). Xiaomi was the worst affected with a reduction of 23.5% followed by Samsung with 18.9%. Apple was least affected as the reduction was only 2.3%. The phone market is expected to continue to decline this year due to economic factors as well as rising device prices.
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NEWS & FACT