The global smartphone market suffered its fifth consecutive quarterly decline, falling by 12% YoY in Q1 2023, but iPhone sales have grown.
survey. That said, iPhone sales have grown year over year from 18% to 21% due to the solid demand for the iPhone 14 Pro series after supply constraints made the company sell fewer models during the last holiday quarter.
“The smartphone market’s decline in the first quarter of 2023 was within expectations throughout the industry,” said Canalys Analyst Sanyam Chaurasia. “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.
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