China Is Dragging Smartphone Market to Worst Year in a Decade
- Global smartphone shipments are expected to drop 6% from 2022
- Apple is better positioned than others to weather the storm
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Global smartphone shipments are headed for their worst year for over a decade as prolonged economic uncertainties in China and beyond are hurting consumer spending.
Shipments are expected to drop 6% year-over-year to 1.15 billion handsets in 2023, according to the latest Counterpoint Research estimate, due to a deteriorating Chinese economy struggling with deflation and disappointing demand in the US.