US smartphone sales slump in January on fewer device upgrades, Counterpoint finds

Men walk looking at their smartphones in the Midtown area of New York City, U.S., October 5, 2023. REUTERS/Shannon Stapleton

(Reuters) - U.S. smartphone sales plunged 10% in January on weak demand for cheaper Android devices and as customers delayed upgrades ahead of the launch of Samsung Electronics' Galaxy S24 series, according to data from Counterpoint Research.

The research firm said U.S. smartphone sales last month were nearly half of the record levels seen in the same period in 2017, underscoring fears that the market may have peaked.