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Smartphone shipments rises to 282.6 m units

Smartphone shipments rises to 282.6 m units
Photo by David Švihovec- Ask Nigeria

The shipments are estimated to increase to 413.3 million units in 2026.

According to data by the International Data Corporation (IDC), used and officially refurbished smartphone shipments hit 282.6 million units in 2022, representing a rise of 11.5 percent unit growth compared to the 253.4 million units shipments recorded in 2021. It was also estimated by the IDC that the growth will further increase to 413.3 million units in 2026 with a compound yearly growth rate (CAGR) of 10.3 percent from 2021 to 2026. It estimated the market value of the shipments at $99.9 billion.

The agency elaborated that the new and used smartphone global market continues to be driven by trade-in programs. Several new programs have been witnessed across multiple regional markets where Trade-in is still a new concept for local consumers. Moreover, IDC noted that trade-ins are also contributing significantly in developed markets such as America, Canada, and Western Europe towards accelerating refresh cycles through telecommunications and retail-driven promotions. In return, this has contributed to a rise in Trade-in value (TIV), which is typical when demand for new devices is slow.

Nigeria spent $2.35 b on telephone importation in three years.

Conversely, rise in TIV has pushed prices up in the secondary market owing to consumers getting more for their old devices to help drive upgrades. The International Trade Centre (ITC), an organization that focuses on countries’ inclusion and sustainable growth of trade, reported in 2022, shows that Nigeria spent $2.35 billion on telephone importation in a span of three years. ITC noted that Nigeria spent $807.95 million on importation of phone sets in 2019; $765.57 million in 2020 and $772.25 million in 2021. The imported telephone sets included: smartphones, facsimile machines for line telephony, teleprinters, parts of telephone sets, and more.

International Data Corporation (IDC), further noted that the increased sale of higher-priced devices in the new market has also established a circular effect as many of these aggressive trade-in deals featured majorly on premium devices. However, it’s been a questionable scenario for buyers and sellers on how long these aggressive trade-in offers will last in the market. Long prevalent Trade-in offers eventually narrow margins will impact the overall profits of the channel, vendor, or perhaps both.

Used devices show more resilience to market inhibitors.

Research Manager with IDC’s Worldwide Quarterly Mobile Phone Tracker, Anthony Scarsella attributed the 11.5 percent increase in 2021 to the 6.1 percent rebound experienced in the new market for 2021. Scarsella explained that used devices show more resilience to market inhibitors than new smartphone sales as consumer choices remain elevated in many regions. Attractive price points are critical for growth as cost savings remain the primary benefit. However, a high-end inventory struggle owing to elongated refresh cycles in the new market has used smartphone prices to rise over 11 percent in 2022.

On the other hand, Apple Inc., American multinational technology company, revealed that app developers marketing product and services on the Apple store earned over $320 billion as income on their apps in the last 14 years, since the platforms inception in 2008. As contained in Apple’s review of the app store performance for 2022, marks another year of record earnings. Also, this considerable number represents just a fraction of the overall commerce the app ecosystem facilitates. The earnings were paid to the developers between 2008 and 2022.

Apple’s services evolvement recorded in 2022.

The App Store connects developers of all sizes, from emerging sole creators to large international teams, with more than 650 million visitors across 175 regions each week. Throughout the year, new apps and games deliver fresh ways to connect. While speaking on other services, the technology company said 2022 was a big year for Apple Music, which now features over 100 million songs, representing nearly the entire history of recorded music. Apple Music sets a new quality bar for music streaming, giving fans a deeper and more immersive experience than ever before.


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Admin
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14 days ago

Smartphone shipments rises to 282.6 m unitsThe shipments are estimated to increase to 413.3 million units in 2026. – Express your point of view.

Abusi
Member
8
14 days ago

The introduction of smartphone into the country has helped phone selling businesses. It has also helped to generate more revenue to the government pulse.

Member
9
14 days ago

Smartphones is one of the lucrative businesses people are doing how in order to make ends meet and it’s a thing of joy to note that there has been considerable increase in shipment of the products and this will continue to boost the GDP of our dear nation.

Member
8
14 days ago

The rise in the shipment of smart phone is nice because it will impact the overall profits of the channel, vendor and also help generate more revenue to the government.

Last edited 14 days ago by Iyanu12345ogg
Member
8
14 days ago

There have been reports of a number of new programs being implemented in a variety of regional markets, some of which are still relatively unfamiliar with the concept of trading in.

Member
8
14 days ago

Trade-in programs continue to be a primary force in both the new and used smartphone markets on a global scale.

Member
8
14 days ago

The growth in TIV has contributed to an increase in pricing in the secondary market as a result of customers being able to get a higher price for their used technology in order to encourage them to upgrade.

Member
8
14 days ago

Additionally, trade-ins are making a significant contribution in developed countries such as the United States of America, Canada, and Western Europe to the acceleration of refresh cycles within the telecommunications industry.

Member
8
14 days ago

Long-standing and widespread trade-in offers will eventually result in reduced profit margins, which will adversely affect the overall earnings of the channel, the seller, or possibly both.

Member
8
14 days ago

Apple Music raises the bar for the quality of music streaming services by providing users with an experience that is richer and more immersive than ever before.

Member
8
14 days ago

This significant number only accounts for a small portion of the total amount of business that is made possible by the app ecosystem.

Member
8
14 days ago

There will be positive effects on channel and vendor profits and government coffers from the increase in smart phone shipments.

Member
8
14 days ago

Smartphones are one of the most profitable businesses individuals are doing to make ends meet, and it’s great to see that shipment has increased, which will enhance our nation’s GDP.

Member
8
14 days ago

This huge sum only represents a fraction of the entire amount of revenue that is generated as a result of the app ecosystem’s contribution to the world of business.

Member
8
14 days ago

Smartphone business is a business which people are into this days so the shipment will rise it is nice it rise it will benefit of country well

Member
8
13 days ago

It’s encouraging to see a growth in smartphone shipments, since this sector of the economy is one of the most lucrative for those trying to make ends meet.

Member
9
13 days ago

Smartphone shipments rises to 282.6 m units. What a shame for Nigeria, up to the age of Nigeria we can not produce phone due to bad leaders

Member
8
13 days ago

It is quite clear that Nigerians are now getting more inclined to technology. We have the population we also own the market and that is why there is an increase in smartphone shipment.

Member
8
13 days ago

Because technological awakening is increasing in Nigeria more and more people are willing to get advance tech product. Besides, Nigeria have the population why won’t there be an increase in smartphone importation.

Member
9
13 days ago

The use of smartphone in the country will continue to grow each day because the population keeps increasing and people that are ready to use smartphone is increasing each day also.

Member
8
13 days ago

Nigeria spent $2.35 billion on importing telephones over the course of three years, according to a 2022 research from the International Trade Centre (ITC), an institution that focuses on countries’ inclusion and sustainable growth of trade.

Member
8
13 days ago

As a result of customers being able to sell their used equipment for a greater price to encourage them to upgrade, the expansion in TIV has helped to drive up prices in the secondary market.

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