CROSBY Research – TMT sector: Review of 2Q23 smartphone shipment and market share

07 Aug 2023

According to the latest data from IDC, despite global smartphone shipment contracted for the eighth consecutive quarter to 265.3mn units in 2Q23, the rate of decline has gradually slowed from a contraction of 18.3%/ 14.6% YoY in 4Q22/1Q23 to a decline of 7.8% in 2Q23. The improving shipment trend was supported by the excess inventory clearing and launching of new smartphone models. We expect global smartphone market to return to growth in 4Q23 or early 2024.