Smartphone market predicted another decline

Sony has predicted a decline in the smartphone market until at least 2024. It is reported by Bloomberg.

As part of the financial report, company representatives said they expect another decline in the smartphone market. According to experts, earlier they noted that the market will begin to recover in the second half of the financial year, but later corrected the forecast. The authors of the report suggested that growth in this segment will be noticeable no earlier than 2024.

“The recovery of the smartphone market in China is slower than we expected, and conditions in the US market are deteriorating,” said Sadahiko Hayakawa, general manager of Sony finance. The company noted that China is trying to restart its economy after the coronavirus pandemic, and in other regions there is strong inflationary pressure that affects consumer spending.

Bloomberg emphasized that Sony is the world’s largest supplier of sensors for smartphone cameras. Journalists also recalled that earlier Apple recognized the onset of the longest decline in the last decade in the smartphone market.

At the end of July, Canalys analysts said that the global smartphone market was down again. At the same time, the organization noted that they expect it to be restored before the end of the year.