Due to record-breaking inflation, geopolitical tensions and other macroeconomic challenges that have significantly dampened consumer demand, shipments of smartphones will decline by 6.5% to 1.27 billion units in 2022, according to the latest International Data Corp (IDC) Worldwide Quarterly Mobile Phone Tracker forecast. As a result, the latest forecast figures represent a reduction of three percentage points from previous projections. However, IDC expects the setback to be short term and the market to rebound in 2023 with 5.2% growth year-over-year and, in the long term, a five-year compound annual growth rate (CAGR) of 1.4%...
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