Phones arent selling well this year says Qualcomm, so Black Friday could be the time to buy

Date:
Thu, 03 Nov 2022 10:13:31 +0000

Description:
Smartphone sales could be down 10% or more this year according to a
prediction from Qualcomm.

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You might think that coming out of a pandemic with people out and about once again would push the demand for smartphones to climb, but it seems the opposite is true, as sales could be down 10% or more this year.

Thats according to Qualcomm, which in its latest earnings release as spotted by The Verge predicted that there could be a low double-digit percentage decline in handset volume this year, compared to last year. Thats a bigger drop than expected, with the company revising a previous estimate it made of
a mid-single-digit percentage decline.

So why the lack of demand? Qualcomm points to the uncertain economic environment, which makes sense smartphones tend to be expensive, and new
ones might not be top of people's shopping lists, when money is a worry.

Interestingly, Qualcomms report also claims that due to a rapid deterioration in demand coupled with the easing of supply constraints in the semiconductor industry (which had previously been slowing down the production of smartphones), some companies now have a large inventory of phones that theyre struggling to shift.

Qualcomm didnt name specific companies, but The Verge notes that both Samsung and Apple are likely to be among them, as earlier reports suggested Samsung had a huge number of handsets in stock, while Apple has reportedly ditched plans to increase production of the iPhone 14 line. Analysis: Black Friday phone deals could be better than usual this year

If Qualcomms claims and predictions are accurate which they likely are,
since the company provides components for a huge selection of smartphones, so would know whats going on in the industry then a lot of companies might have stock theyll be eager to shift.

Indeed, Qualcomms report even notes that theres roughly 8-10 weeks of
elevated inventory, so things might not stabilize until 2023.

All of which means companies might be inclined to drop prices on phones to help shift them over the next month or two, and that timing lines up nicely with Black Friday , which this year falls on November 25.

So its likely that well see some eye-catching deals on smartphones both on Black Friday itself and the days surrounding it, including Cyber Monday on November 28, as these are prime opportunities for smartphone makers to increase their sales.

Plus, the whole reported reason for the lack of demand is that money is tight and costs are soaring for a lot of people, so reduced prices are likely to be all the more important and appealing to buyers, as well as sellers. As such, wed strongly suggest keeping an eye out for the best Black Friday phone deals this year, with offers already starting to crop up.



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Link to news story: https://www.techradar.com/news/qualcomm-earnings-call-november-2022-phones-are nt-selling-buy-black-friday-deals/


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