target audience: TECH SUPPLIER Publication date: Sep 2023 - Document type: Market Forecast - Doc Document number: # US51211623
Worldwide Mobile Phone Forecast Update, 2023–2027: September 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 1,353.1 million units shipped in 2023, down 5.8% from the 1,437.0 million units shipped in 2022. From there, total mobile phone shipments will grow to 1,452.0 million units worldwide by 2027, resulting in a CAGR of 0.2% from 2022 to 2027.
"The first half of 2023 will be one to forget as the mobile phone market dropped over 11.3%," said Anthony Scarsella, research manager with IDC's Worldwide Quarterly Mobile Phone Tracker. "The steep declines in the first and second quarter of 2023 are slightly worse than the 11.1% decline of 1H22. The back half of the year will hopefully calm the market as new foldables and flagships should attract many consumers looking to upgrade. Moreover, the projected 1% decline in 2H23 will resemble a victory compared to the 15.5% decline of 2H22."