Halide perovskites, such as methylammonium lead halide perovskites (MAPbX3, X = I, Br, and Cl), are emerging as promising candidates for a wide range of optoelectronic applications, including solar cells, light-emitting diodes, and photodetectors, due to their superior optoelectronic properties. All-inorganic lead halide perovskites CsPbX3 are attracting a lot of attention because replacing the organic cations with Cs+ enhances the stability, and its halide-mixing derivatives offer broad bandgap tunability covering nearly the entire visible spectrum. However, there is evidence suggesting that the optical properties of mixed-halide perovskites are influenced by phase segregation under external stimuli, especially illumination, which may negatively impact the performance of optoelectronic devices. It is reported that the mixed-halide perovskites in forms of thin films and nanocrystals are segregated into a low-bandgap I-rich phase and a high-bandgap Br-rich phase. Herein, we present a critical review on the synthesis and basic properties of all-inorganic perovskites, phase-segregation phenomena, plausible mechanisms, and methods to mitigate phase segregation, providing insights on advancing mixed-halide perovskite optoelectronics with reliable performance.