Smartphone sales are at an all-time low. Even the past holiday season couldn’t compel people to buy new phones, and it seems things will remain down for a while as far as handset sales are concerned.

Samsung just launched the Galaxy S23 series but predicts that phone sales will not pick up till the second half of the year. Qualcomm also held its Q1 2023 earnings call yesterday and expects “broadening demand weakness among handsets.” The chipmaker said it doesn’t see phone makers shipping as many phones through 2023 because they don’t expect people to buy new phones.

Dwindling phone sales can be attributed to the poor state of the world economy right now. Inflation is soaring, jobs are being cut, and people don’t have discretionary income to put toward tech purchases.

So we wanted to ask you if you plan to hang on to your current smartphone or if you’re picking up a new one this year. Are you waiting for the holiday season to get some good deals, or have you decided to hold off this year? Take our poll above and let us know your thoughts in the comments section below.