According to Canalys, Apple's shipments were driven by strong demand for the iPhone 14 Pro series in Q1 2023.
Canalys Analyst Toby Zhu: "We have noticed some signs of moderation in the continued decline. There have been improvements in demand for certain smartphone products and price bands. Furthermore, some smartphone vendors are becoming more active in production planning and ordering components.
Canalys predicts that the inventory of the smartphone industry, irrespective of channel or vendor, can reach a relatively healthy level by the end of the second quarter of 2023. It is still too early to predict the recovery of overall consumer demand."
Lastly, the report noted that 5G popularization and foldable phones are also becoming the new driving forces in the industry." In context, at present, foldable smartphones only reached 1.2% of the market in 2022. So while foldable smartphones are gaining momentum with more vendors releasing new models in 2022, it's still a tiny niche due to prices. As prices fall, the popularity of foldable smartphones will increase.
