TechInsights: The global smartphone replacement rate is expected to bottom out and is expected to start a slight rebound next year

According to TechInsights official news, the global smartphone replacement rate has continued to decline over the past decade. This is due to the impact of reduced subsidies in some markets, an increase in low-income prepaid users, and improvements in smartphone quality

According to global TechInsights has lowered its global smartphone sales forecast figures for 2023 and 2024 due to key assumptions such as an uncertain economic outlook. Therefore, the replacement rate of smartphones will also decrease further. The report states that due to inflation, rising interest rates, and uncertain economic prospects,

the global smartphone replacement rate may fall to a minimum of 23.5% (replacement cycle is 51 months) in 2023 point

. Starting in 2024, replacement rates will slowly rebound due to economic recovery and 5G migration.

▲ Picture source TechInsights

According to the report, six regions around the world will act according to the global model. The following are the key points from this site:

• In 2023, the replacement rate in Asia Pacific, Western Europe and North America will hit an all-time low

  , but the replacement cycle in North America will still be shorter than other regions.

The Asia-Pacific region is a fragmented region. All countries show an upward trend from 2024 to 2028, but mature 5G markets such as South Korea, Japan, China and Australia will not progress as much as emerging markets
In recent years, due to channel There is a higher proportion of transfer, prepaid and low-income users, and replacement rates have been declining in Central Latin America and the Middle East and Africa. However, it is expected that in the next few years, with the promotion of 5G network construction and other better facilities, the replacement rate will be improved
In recent years, the situation in the Central and Eastern European markets has been unstable. Stablize. A recovery is expected from 2024, despite war and economic instability in the region. However, by the end of the forecast window, the probability of its recovery will be no higher than in 2019

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