TF International analyst Ming-Chi Kvo predicts a significant decline in smartphone prices in 2023. This is reported by My Drivers.

According to Kvo, smartphone makers are currently facing a problem: their warehouses are overcrowded due to low demand for mobile gadgets. This becomes a serious problem and can lead to a decrease in supplies and a cheaper share of manufacturing companies.

As a result, manufacturers will be forced to declare a “price war”. The cost of smartphones will fall to encourage users to purchase them. That is why 2023 will be the best time to update gadgets, the analyst is sure.

Recall that this year the smartphone market expects a significant reduction. Most of all, it will affect the budget segment of gadgets, say experts from the South Korean corporation Samsung.