CHART: Global smartphone shipments declined by 14.6% YoY to 268.6 million units in Q1 2023

Global smartphone shipments declined by 14.6% YoY to 268.6 million units in Q1 2023, marking the seventh consecutive quarter of decline, according to preliminary data from the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker.

Although the figure is higher than IDC's earlier 12.7% forecast, it's not surprising given the market's long-term issues such as inflation, lukewarm demand, and macroeconomic uncertainties. China, which saw almost a 12% drop, performed worse than expected, despite the recent reopening of the market. Meanwhile, regions like APeJC, CEE and MEA witnessed larger 17% to 20% declines.

However, Ryan Reith, Group VP with IDC's Worldwide Tracker team sees a silver lining in the form of gaining confidence in a return to growth late this year and into 2024. This Techloy chart below highlights the percentage market share of the top 5 smartphone vendors globally, as of the first quarter of 2023, based on data from the IDC.