Samsung regains the throne from Apple during the first quarter
Canalys Analyst Sanyam Chaurasia wrote, “The smartphone market’s decline in the first quarter of 2023 was within expectations throughout the industry. The local macroeconomic conditions continued to hinder vendors’ investments and operations in several markets. Despite price cuts and heavy promotions from vendors, consumer demand remained sluggish, particularly in the low-end segment due to high inflation affecting consumer confidence and spending.”
Zhu adds, “It is still too early to predict the recovery of overall consumer demand. However, the sell-in volume of the global smartphone market is expected to improve due to the reduction in inventories in the next few quarters. In addition, vendors have focused more on innovations and raising production and channel efficiencies after a round of fluctuations, shifting from growing for volumes and shares to growing for quality. 5G popularization and foldable phones are also becoming the new driving forces in the industry.”
