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Global smartphone shipments proceed to say no with 7.8 drop in Q2: Report

New Delhi [India], July 28 (ANI): Global smartphone shipments declined 7.8 per cent on a yearly foundation to 265.3 million models within the second quarter of 2023 (April-June), preliminary knowledge from the International Data Corporation (IDC) confirmed.

International Data Corporation (IDC) is a worldwide market intelligence and advisory providers supplier.

With this, it marks the eighth consecutive quarter of contraction because the market struggles with weak demand, inflation, macroeconomic uncertainties, and extra stock. The price of decline although is slowing in comparison with earlier quarters, IDC mentioned in a launch.

“The good news is that inventory levels are improving and the latest market chatter suggests that by Q3 excess inventory in finished devices and components should clear up,” mentioned Nabila Popal, analysis director with IDC’s Mobility and Consumer Device Trackers.

There is an optimism that the market would return to development by the tip of the 12 months and into 2024, IDC mentioned.

China, in line with IDC, witnessed a year-over-year decline of two.1 per cent within the April-June quarter after 5 quarters of serious double-digit contractions.

“While this is better than past quarters, consumer sentiment and spending remain low,” it mentioned.

The different massive areas, together with Asia/Pacific (excluding Japan and China), the US, and Europe, the Middle East, and Africa (EMEA), additionally noticed shipments decline by 5.9 per cent, 19.1 per cent, and three.1 per cent respectively.

“Although the first half of the year has presented many challenges to the market, we believe that there remains plenty of opportunity awaiting in the second half of the year,” mentioned Anthony Scarsella, analysis director, of Mobile Phones at IDC. (ANI)