SHANGHAI: 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."Asia is one of the major hurdles to positive growth, as headwinds halt the economic turnaround anticipated for China,” the report said.
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