By Chris Skeldon 
The Samsung Monitors weak sales in the smartphone market. After announcing its Q3 2022 financial report and revealing a 23% drop in profits, the company also lowered its sales forecast for the mobile segment for 2023. The new company expects to put 270 million devices into circulation next year.
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Typically, the company is estimated at 300 million – the value represents about 25% of all smartphones sold in a year. The historical record is still 320 million units in circulation, it was reached in 2017. A new assessment shows that the company remains cautiousIn light of the effects of economic recession and geopolitical tensions.
According to the information published by the international portal peopleThe South Korean-based company estimates that by the end of 2022, about 260 million smartphones will be in circulation. As we can see, the expectation is for an improvement in the sector in 2023, but without much optimism.
Samsung is betting on foldable devices
In the third quarter of 2022, Samsung acquired Profit of $7.5 billion, down 23% from the previous quarter. Despite this, the company said sales of foldable smartphones have been strong, and one of Samsung’s bets is to focus more on the foldable smartphone segment. It is expected to sell 60 million units of the Galazy Z Flip, Galaxy Z Fold and Galaxy S lines.
In the quarterly report presentation, the company strengthened Good performance from the Galaxy Z line. And it outperformed the previous generation. Additionally, the last quarter is expected to bring renewed interest in the sector. “Looking at the last quarter, market demand for smartphones and wearables is expected to increase compared to the last quarter, due to the annual monsoon seasons, even taking into account geopolitical issues and macroeconomic instability.”
The current global economic situation has put the technology sector to the test. With declining sales, Big companies are making cuts to employees. According to Samsung forecasts, 2023 should be another complex year for the sector.
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source: SammobileAnd the people
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