5G Smartphones: Smartphone demand will not grow in 2023 due to global recession.
5G services launched worldwide. 5G services have already been launched in several states of India. 5G service will be launched in the whole of India in the coming days. For this, various mobile companies are launching smartphones with 5G support.
Several popular smartphone companies have already launched their 5G smartphones. But while all this is going on in full swing, a sensational information has emerged.
Demand for smartphones is not high due to global recession. The demand for smartphones is very low all over the world. Even though 5G service is launched, the demand for smartphones is not high. So it is thought that smartphone shipments will not grow in 2023 due to global slowdown. Because it may move lower in the first half of the year.
It is expected to start increasing gradually from the third quarter of the year. According to a report, this report has come forward.
According to Counterpoint Research, the global smartphone market will grow by 2 percent (on an annual basis) in 2023. Smartphone shipments in the 2022 outlook fell by 1.24 billion units compared to the 2023 forecast.
Persistent inflation, expectations of future interest rate hikes, corporate earnings shortfalls, China’s stagnant economy, the protracted Ukraine-Russia war, political unrest in Europe and sweeping new export controls on China from the United States have dampened demand for phones. Peter Richardson, vice president of Counterpoint Research, highlighted the slowdown in the global smartphone market.
It is thought that there may be some demand for low and mid-priced 5G devices. As a result, the global market is expected to witness a healthy increase in demand for 5G devices in early 2024.
But, doubts are being expressed about the demand for expensive phones with 5G support. As a result, the popular mobile company’s hands on the head. They are already running various promotions to increase demand for their 5G phones. At the same time various offers are being given.
According to reports, new devices like foldables may gain popularity in the premium smartphone market in the coming days. So the demand for foldable phones with 5G support may increase in the market. But, in the current scenario, demand for the phone in the market is low and shipments may be low accordingly.