The Global smartphone sales declined for the 8th consecutive quarter due to inflation, economic issues and other reasons.
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.