Over the course of 2022, we are ready to see users starting to switch phones less often, leading to a decrease in phone sales compared to the previous year.
In addition, the latest Qualcomm is also targeting which sales of smartphones and connected devices in the first half of 2023 will also experience a decline. This will also impact the demand for Qualcomm's own chips.
Qualcomm is targeting the phone maker not to produce as many phones as before, until June 2023 - due to reduced demand. Despite this, Qualcomm still says that new devices from the manufacturer will still be introduced as usual.
Qualcomm did not state the reason behind this trend. But, various industries that say macro-economic effects including inflation, as well as unemployment lead to changes in spending methods, and consumers are more careful in buying a product. The device specifications that are now adequate also make users no longer need to change devices as often as before.