In the end of August 2023, new data about the forecast of smartphone’s shipments in 2023 were revealed. According to the data, smartphone’s shipments in 2023 will be 1.15 billion. This number will be decreased by 4.7%, compared to 2022. In addition, the amount, which is 1.15 billion units, will be the lowest figure in 10 years. This forecast became worsen. This is because the shipments had been expected to be decreased by 3.2% compared to the last year based on the same research company.

There are several reasons why the forecast is decreasing. First of all, many countries are facing high inflation rate for years. Thus, many people in the world want to use their smartphone longer than before. As a result, the cycle of purchasing a new smartphone is getting longer. Also, iPhone was revealed in 2007, so it means that we have already experienced the upgrades of our smartphones more than 15 years. There are less rooms to realize big technological advancements in a smartphone.

Compound Annual Growth Rate (CAGR) of the smartphone market in the next 5 years (2023-27) is expected to be 1.7%, according to the same data. Therefore, it means that the smartphone shipments in 2027 may be 1.25 billion units. Of course, this number is still huge. However, it is much fewer than the peak of the market.

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