{"id":21487,"date":"2023-02-05T14:58:58","date_gmt":"2023-02-05T14:58:58","guid":{"rendered":"https:\/\/www.africa-press.net\/botswana\/all-news\/samsung-predicts-smartphone-market-will-decline-further-in-2023"},"modified":"2023-02-05T17:22:34","modified_gmt":"2023-02-05T17:22:34","slug":"samsung-predicts-smartphone-market-will-decline-further-in-2023","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/botswana\/all-news\/samsung-predicts-smartphone-market-will-decline-further-in-2023","title":{"rendered":"Samsung predicts smartphone market will decline further in 2023"},"content":{"rendered":"

Africa-Press – Botswana. <\/strong><\/span>Samsung Electronics, the world\u2019s biggest smartphone maker, expects the smartphone market to contract in 2023.<\/b><\/p>\n

The South Korea-based Galaxy device maker said this week it sees demand for mobile devices shrinking in the current year, even after the economic challenges and disappointing sales of 2022.<\/p>\n

It detailed its biggest profit drop in over a decade on Tuesday, saying \u201cthe business environment deteriorated significantly\u201d in the last quarter of the year.<\/p>\n

Mobile device makers have been especially hit by the slowdown in consumer spending that resulted from surging inflation and interest rates along with geopolitical tensions last year.<\/p>\n

Hopes for a rebound in 2023 have been given some impetus by China\u2019s gradual reopening after the country relaxed its strict Covid Zero policy and unwinded some of the pressure on its domestic Internet companies.<\/p>\n

China is the world\u2019s biggest smartphone market and is unlikely to repeat the double-digit falls in shipments and sales it saw in 2022, but Samsung\u2019s outlook would suggest that won\u2019t be enough to return the mobile business to growth in the near term.<\/p>\n

\u201cAmid prolonging geopolitical issues, continued inflation and the continued economic slowdown, we expect the smartphone market to contract in 2023, with the mass market impacted the most,\u201d Daniel Araujo, a Samsung vice president, said on a call following the company\u2019s fourth quarter earnings.<\/p>\n

For More News And Analysis About Botswana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Botswana. Samsung Electronics, the world\u2019s biggest smartphone maker, expects the smartphone market to contract in 2023. The South Korea-based Galaxy device maker said this week it sees demand for mobile devices shrinking in the current year, even after the economic challenges and disappointing sales of 2022. It detailed its biggest profit drop in […]<\/p>\n","protected":false},"author":84,"featured_media":21486,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,9],"tags":[233,237,234],"class_list":["post-21487","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-miscellaneous","tag-africa-press","tag-africa-press-botswana","tag-botswana"],"yoast_head":"\nSamsung predicts smartphone market will decline further in 2023 - Botswana<\/title>\n<meta name=\"description\" content=\"Samsung Electronics, the world\u2019s biggest smartphone maker, expects the smartphone market to contract in 2023. 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