target audience: TECH SUPPLIER Publication date: Jun 2023 - Document type: Market Forecast - Doc Document number: # US50828123
Worldwide Mobile Phone Forecast Update, 2023–2027: June 2023
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Abstract
This IDC study presents the five-year forecast for mobile phone shipments worldwide by device type. The worldwide mobile phone market will reach 1,366.4 million units shipped in 2023, down 4.9% from the 1,437.0 million units shipped in 2022. From there, total mobile phone shipments will grow to 1,494.7 million units worldwide by 2027, resulting in a CAGR of 0.8% from 2022 to 2027.
"With the first quarter coming in lower than expected, the road to recovery will most likely be delayed until the fourth quarter," said Anthony Scarsella, research manager with IDC's Worldwide Quarterly Mobile Phone Tracker. "After a dismal Q1, we expect the next two quarters to be in the red with an 8.7% drop in the second quarter and a mild 3.7% decline in the third quarter as demand is still lacking in most markets. However, in the fourth quarter of 2023, we will see a positive turnaround with 7.8% growth as new flagships and holiday sales will help drive the growth."