Opinion Articles

Thursday, November 23, 2023

Global smartphone market is set for recovery, says new forecast

A new forecast from research specialists Canalys shows the smartphone market is set to recover next year. Shipments worldwide declined by 12% last year but that decline is expected to slow to 5% this year.

1.13 billion smartphones are forecast to be shipped around the globe this year, with anticipated growth of 4% bringing the total to 1.17 billion units in 2024. This increase will continue, with global shipments expected to hit 1.25 billion units in 2027.

The Middle East, Africa and Latin America regions are expected to return to growth this year at 9%, 3% and 2% respectively.

This year will see Europe delivering the lowest number of smartphone shipments in over ten years, according to Canalys, although the European market is expected to grow by 4% in 2024.

Toby Zhu, Senior Analyst at Canalys, said “The smartphone industry is clearly emerging from its darkest days, even as the shipments remain over 20% below its 2017 peak. The good news is that consumers are placing more value on their devices than ever before, with average selling prices now exceeding US$440 versus US$332 in 2017. Profitability is looking up for hardware makers strategically launching flashy new features to captivate consumers in key growth markets.

Canalys notes that a third of all smartphones shipped next year will be purchased in the Asia Pacific region, compared with just one in five back in 2017.

Print
Author: The Fonecast
0 Comments
Rate this article:
No rating

Categories: Handsets and manufacturers, Retailing, NewsNumber of views: 27058

Tags: research smartphone

Leave a comment

This form collects your name, email, IP address and content so that we can keep track of the comments placed on the website. For more info check our Privacy Policy and Terms Of Use where you will get more info on where, how and why we store your data.
Add comment

Follow thefonecast.com

Twitter @TheFonecast RSS podcast feed
Find us on Facebook Subscribe free via iTunes

Archive Calendar

«November 2024»
MonTueWedThuFriSatSun
28293031123
45678910
11121314151617
18192021222324
2526272829301
2345678

Archive

Terms Of Use | Privacy Statement