January 17, 2022

CHICAGO PIXELS

SEMICONDUCTOR RESEARCH CENTER

Smartphone shipments to grow 5.3% in 2021, despite lower-than-expected Q3 amid supply chain constraints

Shipments of smartphones will grow 5.3% year-on-year in 2021 to 1.35 billion units, according to the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker. However, due to the lower-than-expected third quarter and the continued component shortages and logistical challenges, which may not improve until mid-2022, IDC has lowered its growth forecasts for 2021 from 7.4% to 5.3% and for 2022 from 3.4% to 3%, respectively. Looking at 2023 and beyond, IDC continues to expect a modest but healthy 3.5% five-year compound annual growth rate (CAGR) fueled by pent-up demand, declining average selling prices (ASPs), and continued transition from feature phones to smartphones…