Global smartphone shipments plunged in the fourth quarter of 2022 — usually a big holiday shopping period — thanks to macroeconomic weakness and s

Smartphone shipments plunge to a low not seen since 2013 — their largest ever decline

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2023-01-27 06:30:06

Global smartphone shipments plunged in the fourth quarter of 2022 — usually a big holiday shopping period — thanks to macroeconomic weakness and soft consumer demand, according to market research firm IDC.

Electronics firms shipped 300.3 million smartphones in the October to December quarter, an 18.3% year-over-year fall, IDC said in a report published late Wednesday. The drop marks the largest-ever decline in a single quarter.

A total of 1.21 billion smartphones were shipped in 2022, which represents the lowest annual shipment total since 2013 "due to significantly dampened consumer demand, inflation, and economic uncertainties," IDC said.

"We have never seen shipments in the holiday quarter come in lower than the previous quarter. However, weakened demand and high inventory caused vendors to cut back drastically on shipments," said Nabila Popal, research director at IDC.

Shipments represent the devices that companies like Apple and Samsung send to retailers and mobile carriers. They do not equal sales but they do give an indication of demand.

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