The competition in the smartphone market is continuing at full speed. Tech giants such as Apple, Samsung, Xiaomi, and Oppo are fiercely competing to sell more products and expand their market shares globally. So, what is the current state of this race? Counterpoint, often featured on Gizmochina for their industry reports, recently published the US smartphone shipments report for Q1 2023. According to this report, the ongoing decline in sales worldwide has continued in the US as well.Here are the details…
US Smartphone Shipments Decline in Q1 2023 Amid High Inflation, Inventory Correction; Apple Share Up
The technology world has recently been grappling with a serious economic crisis. During the pandemic, increased demand caused sales to skyrocket. This situation led to a significant increase in revenues, causing many companies to grow excessively. Of course, the pandemic didn’t last forever, and after the normalization process, demand for consumer electronics decreased. With the addition of the global inflation increase, interest in non-essential products declined for many people. This situation naturally affected smartphone sales as well.
Smartphone shipments in the US experienced a 17% YoY decline in Q1 2023. The drop in shipments affected all major manufacturers, despite a strong first quarter performance in the previous year. Amid this decline, Apple managed to increase its market share to 53% in Q1 2023, up from 49% in Q1 2022. Research Analyst Matthew Orf attributed the decline to inflation and an uncertain economic outlook, which has caused consumers to hold off on new device purchases.
Despite the overall market weakness, some niche categories such as foldable smartphones are expected to perform well. Additionally, when looking at specific models, it is possible to say that the sales of models like iPhone 14 and Samsung Galaxy S23 are in good shape. The real surprise, however, is the success of the Galaxy A14 5G model in the USA. Based on this, it is possible to say that entry-level phones are just as important as flagship models.
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