The production of smartphones fell 19.5 percent to 250 million units during the first quarter of 2023.
This represents not only the greatest annual decrease but also a historic low in quarterly production since 2014, TrendForce reports.
Samsung has achieved a slight surge in Q1 production thanks to the launch of its Galaxy S23 series, reaching 61.5 million units — a 5.5 percent QoQ rise. Samsung will face a nearly 10 percent drop in Q2 production due to weakening demand for new models.
Apple has faced 27.5 percent QoQ drop in smartphone production in Q1, delivering 53.3 million units. The new iPhone 14 series accounted for approximately 78 percent. Apple will face a decrease of 20 percent in iPhone production in Q2.
Oppo (which includes Oppo, Realme, and OnePlus) made strategic moves to reduce production in Q1 to 26.8 million units, a 17 percent QoQ decrease. Oppo will achieve 30 percent rise in Q2 production, attributed to successful inventory management and a moderate demand resurgence in Southeast Asia and other regions.
Production of Xiaomi (which includes Xiaomi, Redmi, POCO) dipped 27.4 percent to 26.5 million units. This decline can be attributed to a global dip in consumer confidence and an overstocked inventory of finished products at Xiaomi. Xiaomi’s smartphone will grow 20 percent in Q2.
Vivo (including Vivo, iQoo) reported a production volume of 20 million units for the first quarter — a 14.2 percent quarterly decrease. Production volume of Vivo is anticipated to show a modest increase of around 10 percent in Q2.
Q2 production of smartphone is forecasted to reach 260 million units, demonstrating a QoQ increase of around 5 percent and drop by 10 percent when compared to the same period last year.