The demand remained healthy in applications such as smart utilities, payment terminals, and fixed wireless access (FWA) consumer premises equipment (CPE) routers and gateways, Counterpoint said. By contrast, the demand for cellular modules across enterprise digital transformation and industrial projects remained soft.
The global smartphone market extended its eighth consecutive quarter of decline in the April-June period of 2023 with a fall of 5% quarter-over-quarter, as per the research firm.
Foldable Smartphones: Foldable smartphone markets in almost all major regions, including China, North America and Western Europe, displayed strong growth in Q1 2023.