Will Xiaomi's Loss Be Apple's Gain? Analyst Predicts Chinese Smartphone Maker's Shipments To Decline About 10% In 2023

An analyst has predicted a decline in Xiaomi Corp‘s XIACF smartphone sales in 2023 — but Xiaomi’s loss could mean more room for Apple Inc. AAPL to grow. 

What Happened: Ming-Chi Kuo, an analyst at TF International Securities, shared his predictions saying Xiaomi’s smartphone shipments will decrease in 2023 by 8% to 10% YoY. 

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According to Kuo, the market expectations were 150 to 165 million units, but this number could be reduced to around 140 million. 

Kuo also stated that this Chinese consumer electronics company’s inventory of smartphones and components is “far from” a healthy inventory level. 

Why It’s Important: According to a January report by Canalys, Xiaomi was the third-largest smartphone vendor in the fourth quarter of 2022. 

While Samsung Electronics Co. Ltd SSNLF defended its first position, Apple was close behind in second place. 

If Kuo’s predictions are accurate, this could mean more room for Apple to grow, considering the tech giant is preparing to launch its 2023 smartphone lineup. 

The upcoming iPhone 15 series is expected to switch to solid-state buttons from physical ones and have the latest image sensors from Sony Group Corp. SONY.   

In January, it was reported that Apple became the leading smartphone seller in China, despite COVID-19 disruptions and economic slowdown. 

After Apple issued first-quarter earnings and revenue earlier this month, Needham said that the company blamed revenue weakness on supply shortages. 

However, with analysts predicting that Foxconn’s iPhone production in India could grow by at least 150% YOY in 2023, this year could turn out differently.  

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