Smartphone shipments decline, have we reached peak smartphone?
28 June 2023
One point two one billion smartphones were shipped in 2022, according to market intelligence firm IDC, the lowest figure since 2013. The decline in demand has been attributed to increased inflation and economic uncertainty. Purely anecdotal, but a few people I’ve spoken to have said they’re hanging onto their existing devices for the time being.
Apparently eighty-six percent of the global population have a smartphone, so I imagine the market is nearing saturation point. This despite the fact devices need to be upgraded periodically, and there are some people who feel compelled to go out and buy the latest models when they’re released, regardless of the condition of their existing device.