The Global smartphone sales declined for the 8th consecutive quarter due to inflation, economic issues and other reasons.
![A Significant Drop in Smartphone Sales Worldwide](https://keepnews.org/wp-content/uploads/2023/07/InShot_20230719_144156481-300x169.jpg)
The Separate reports by analyst firms Counterpoint Research and Canalys indicated that smartphone sales between April and June 2023 were down by 8 to 11 percent compared to the same period last year.
During this period, Samsung was the largest smartphone vendor with a market share of 22 percent, while Apple was the second largest with a market share of 17 percent.
Surprisingly, the demand for cheap smartphones decreased during April-July, but the consumption of premium or flagship phones increased.
More than 20 percent of smartphones sold in that period were priced at $600 or more, a first for the company.
That’s why the second quarter of this year proved to be a good one for Apple’s iPhones, as most iPhones cost more than $600.
Older phones are now attracting more attention than new ones and their sales increased by 16% during the quarter.
Both the reports said that the situation is likely to improve in the near future as companies try to keep the prices of the phones at a reasonable level by purchasing parts in bulk to avoid price hikes.