Smartphone shipments forecast to dip 6.5% in 2022: IDC

Shipments of smartphones will decline 6.5 percent to 1.27 billion units in 2022. According to IDC, the decline is due to record-breaking inflation, geopolitical tensions, and other macroeconomic challenges that have significantly dampened consumer demand.
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IDC expects the setback will be short term and the smartphone market will rebound in 2023 with 5.2 percent growth year over year and, in the long term, a five-year compound annual growth rate (CAGR) of 1.4 percent.