Tuesday, June 25, 2024
Smartphone news

Top Business Headlines: Smartphone Sales Slump, Layoffs Mount, Tech Jobs Remain Hot

Full Video Transcript Below:

J.D. DURKIN: Alright. Let’s get you caught up on a few of the biggest stories that we are following for you at TheStreet. Starting with smartphones, in what is typically a hot time for smartphone sales, recent data shows that global smartphone shipments plunged nearly 20% in the fourth quarter alone. According to market research firm IDC, a total of 1.2 billion smartphones were shipped in 2022. That represents a figure not seen since 2013. Data shows that consumers were more cautious than ever, with a majority waiting an average of 40 months to update their devices. The slump comes as no surprise as economic uncertainty and inflation continue to weigh on consumer demand.


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