While the global smartphone market is shrinking due to the economic recession, it is predicted that the iPhone will continue to grow. Meanwhile, Samsung is expected to grow its foldable phone market, which was pioneered first, but its market share in the entire smartphone market is expected to face challenges from Apple.
IDC, a market research firm, predicted in its second-quarter global smartphone market outlook report released on the 30th (local time) that smartphone device shipments is shrinking 4.7% year-on-year to 1.15 billion units this year. This is the lowest figure in the last 10 years, IDC explained. IDC previously predicted in its first-quarter report that shipments would fall 3.2% this year, but lowered it this time in consideration of the economic recession and inflation.
Based on the operating system (OS), Android device shipments are expected to decrease by 6% this year, while iPhone is expected to increase by 1.1% to achieve 19.9% of the market share.
In this regard, Vice President Leith noted that shipments of premium smartphones over $800 fell only 1.7 percent last year, but the market in the price range below that fell by double digits. The expensive iPhone market has not been hit hard. On the other hand, the used smartphone market has grown by double digits, which is contrary to the reduction of the mid- to low-priced market.
On the same day, Counter Research, another market research company, made a similar prediction in its smartphone device shipment forecast report. According to the report, shipments of smartphone devices are expected to fall 6 percent year-on-year to 1.15 billion units this year. Counter Research cited China’s slower-than-expected economic recovery and the fact that inflation and interest rate hikes have greatly dampened consumer sentiment for smartphones.
The foldable smartphone market pioneered by Samsung is expected to show steady growth. Estimatedly, global shipments of foldable smartphone devices will reach 101.5 million units by 2027. The figure is more than 54 times higher than this year’s estimated 1.86 million units.
