Tablet Sales Slump After Pandemic Surge: Kiplinger Economic Forecasts
But it’s not all bad news for the tablet sector, dominated by Apple and Samsung, as we reveal
The tech revolution has been upon us for decades, whether it was the boom in televisions, computers or cell phones. More recently, AI is firmly in the spotlight, alongside more developments in other products.
To help you understand the market, our highly experienced Kiplinger Letter team will keep you abreast of developments in the tech sector (Get a free issue of The Kiplinger Letter or subscribe). You will get all the latest news first by subscribing, but we will publish many of the forecasts a few days afterward online. Here’s the latest…
Here's another sign that the tech spending boom has returned to earth: Tablet shipments are back to normal, after a surge during the pandemic among buyers rushing to buy the portable devices for remote work and play.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Market research firm IDC reports that global shipments in the first quarter of 2023 were 30.1 million units, close to the 31.6 million shipped in the first quarter of 2019.
Those preliminary figures show a 19% year-over-year decline, and demand will weaken further. The market is dominated by Apple and Samsung, which grab the majority of shipments.
Still, other vendors continue to compete, such as China’s Huawei, the third-largest seller, Lenovo takes fourth position with Amazon in fifth, seeing a drop of 62% year over year. OnePlus and Google are also launching new tablets.
Though vendors are hurt by falling sales, they are cheering huge user gains. Apple, for example, boasts that iPad users reached a new all-time high recently. The company profits from device users splurging on the company’s other services.
This forecast first appeared in The Kiplinger Letter. Since 1923, the Letter has helped millions of business executives and investors profit by providing reliable forecasts on business and the economy, as well as what to expect from Washington. Get a free issue of The Kiplinger Letter or subscribe.
To continue reading this article
please register for free
This is different from signing in to your print subscription
Why am I seeing this? Find out more here
The Kiplinger Letter editors are a team of seasoned reporters and editors who specialize in different subject areas. They uncover emerging trends and foresee future developments that will affect the economy, financial markets, specific industries, and ultimately, your business, investments and financial affairs. For over a century the Kiplinger Letter's team has provided concise weekly forecasts on business and economic trends, as well as what to expect from Washington.
-
Stock Market Today: Nasdaq Soars Ahead of Tesla Earnings
The EV stock rose nearly 2% ahead of its highly anticipated Q1 earnings report, due after tonight's close.
By Karee Venema Published
-
GM Stock Accelerates After Earnings Beat
General Motors beat expectations for the first quarter and raised its outlook for the year. Here's what you need to know.
By Joey Solitro Published
-
A Spotlight on the Pacific States: The Kiplinger Letter
The Kiplinger Letter Most Pacific states are seeing good job growth in multiple sectors including tourism, hospitality, and construction.
By David Payne Published
-
The Robots Are Coming... But Not For a While
The Kiplinger Letter There’s excitement in the tech sector over the potential of humanoid robots, but widespread adoption is likely to be years away.
By John Miley Published
-
Farmers Face Another Tough Year As Costs Continue to Climb: The Kiplinger Letter
The Kiplinger Letter Farm income is expected to decline for a second year, while costs continue to up-end farm profitability.
By Matthew Housiaux Published
-
India's Semiconductor Sector Eyes Expansion Amid AI Chip Boom: The Kiplinger Letter
The Kiplinger Letter As Wall Street’s love affair with chip firms continues, a recent report highlights India’s plans to expand its semiconductor industry.
By John Miley Published
-
A Spotlight on the Mountain States: The Kiplinger Letter
The Kiplinger Letter Most Mountain states are seeing good job growth in multiple sectors from healthcare, energy, and semiconductor production to farming and government.
By David Payne Last updated
-
H-1B Work Visa Rules Get a Revamp
The Kiplinger Letter H-1B visas allow employers to hire high-skilled foreign workers. Regulators have finalized new rules for this visa program following last fall's proposal.
By Matthew Housiaux Published
-
A Spotlight on the Plains States: The Kiplinger Letter
The Kiplinger Letter The labor market is tight in the Plains states and outside of healthcare and construction most sectors are flat or down.
By David Payne Published
-
Woes Continue for Banking Sector: The Kiplinger Letter
The Kiplinger Letter Regional bank stocks were hammered recently after news of New York Community Bank’s big fourth-quarter loss.
By Rodrigo Sermeño Published