According to IDC Research InstituteSmartphone sales during the 2022 holiday season experienced a year-over-year drop of almost 20%. The drop in phone sales is attributed to the decrease in demand from customers due to the increase in inflation and economic problems. According to IDC, this is the first time in history that quarterly smartphone sales have fallen to such an extent.
Poor performance during the holiday season pushed the volume of phone shipments in 2022 to the lowest level since 2013. IDC says 1.21 billion smartphones shipped last year, but for the first time in history, the 2022 holiday season saw a drop in shipments compared to the 2021 holiday season.
IDC says that companies active in the mobile market have a cautious approach to the release of new devices. Along with the decrease in demand from people, today’s phones have experienced the necessary improvements to a large extent and do not offer many additional features in the new generations.
IDC says people in most major markets use their phones for 40 months before buying a new device. This trend has been seen in the mobile market for years. Carriers AT&T and Verizon warned in 2019 that product upgrade rates were at an all-time low.
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