Mobile market sales will decline in 2023 and recover in 2024

According to IDC’s new research on the mobile market, this year approx 1.17 billion The smartphone will be available worldwide, which may seem significant, but compared to last year 3.2 percent Decrease has found. The current economic conditions of the world are cited as the main reason for this decrease.

However, IDC explained in its report that consumer demand for the mobile market is recovering much more slowly than expected, and for next year predicts that sell smartphones 6 percent will increase.

The growth of the foldable mobile market

The good news for Samsung is that the share of foldable phones is expected to increase, improving the average selling price and profit margins of the South Korea-based giant. The Korean giant is likely to release two of its new foldable phones by the end of July this year, viz Galaxy Z Flip 5 And Galaxy Z Fold 5 will unveil.

This year, Google released its first foldable phone, the Pixel Fold. About other brands, Honor, Huawei, Motorola, Oppo and Xiaomi have also announced their presence in the foldable mobile market, OnePlus will launch its first foldable phone this year, and Apple will wait a few more years to launch the foldable iPhone.

By 2027, smartphone sales are expected to reach nearly 1.4 billion units. The average selling price (ASP) of these devices will also increase from $421 in 2023 to $377 in 2027. For this purpose, companies invest in their ecosystem products. For example, Samsung will continue to offer other Galaxy products, such as Galaxy Buds, Galaxy Book, Galaxy Watch and smart home devices.