Smartphone market recovery predicted

Experts from Canalys predicted a recovery in the smartphone market. This was reported by GizChina.

According to analysts, by the end of 2024 the global smartphone market will reach 1.17 billion units. The increase compared to expected 2023 figures will be four percent. “The resurgence of the smartphone market next year will be driven by emerging markets, where devices remain an integral part of communications, entertainment and productivity,” said Canalys senior analyst Sanyam Chaurasia.

At the same time, by the end of 2023, smartphone shipments should amount to 1.13 billion units, which is five percent lower than in 2022. However, the authors of the study noticed a “glimmer of recovery.” Thus, the growth in smartphone shipments in Latin America will be two percent, in Africa – three percent, in the Middle East – nine percent.

“The smartphone industry is clearly facing its darkest days, with shipments remaining more than 20 percent below the 2017 peak,” said Canalys senior analyst Toby Zhu.

Experts also assessed the introduction of artificial intelligence (AI) into premium smartphones and the impact of this factor on consumer interest. According to analysts, the appearance of AI on devices is unlikely to strongly push users to update their devices.

Earlier, Counterpoint Research specialists reported that smartphone shipments to the European market collapsed in the third quarter. The decline is due to ongoing economic and geopolitical problems.