In the face of subdued demand in the smartphone market, global smartphones shipment volume in 2023 has been revised down to 1.1 billion units, reflecting a 7% year-on-year decline. Nevertheless, as the industry looks forward to the year 2024, there is an optimistic anticipation of a rebound, with smartphone shipment volumes expected to reach 1.148 billion units, representing a promising 3% yearly growth, according to MIC (Market Intelligence & Consulting Institute. 

Amidst the challenging landscape of 2023, only Huawei and Google have exhibited growth. Google's Pixel 7 series has showcased remarkable performance, experiencing increased shipments across North America, the European Union, and Japan. Despite the persistent constraints imposed by the U.S. ban, Huawei has successfully maintained its growth trajectory throughout 2023. This achievement was made possible through the introduction of the P60 and Mate X3 series of 4G smartphones, according to a report published by MIC on August 30. 

Established in 1987, MIC is a division of III (Institute for Information Industry), a major government think tank, and one of the leading IT research institutes in Taiwan.