The global smartphone market fell 9 per cent year on year in Q3 and Q4 was similarly gloomy
Oct 21, 2022| The global smartphone market fell 9 per cent year on year in Q3 and Q4 was similarly gloomy
Recently, the latest data report released by Canalys, a well-known statistics agency, shows that the global smartphone market declined by 9% year on year in the third quarter of 2022, which has been the decline of the smartphone industry for three consecutive quarters.
Among them, Samsung led the market by reducing channel inventory through aggressive promotional activities, with a market share of 22%. Xiaomi, OPPO and vivo have a global market share of 14%, 10% and 9% respectively. Apple was the only one of the top five vendors to report positive year-over-year growth in the quarter, further improving its position with 18 per cent of the market amid the downturn, thanks to relatively resilient demand for iphones, according to the report.
Canalys said consumers are sensitive to any small price increases from manufacturers and manufacturers are quickly adjusting to tough business conditions. At the same time, the biggest challenge facing smartphone makers is reducing the risk of inventory overhang, the analyst said.
In addition, Canalys also said in the report that at present, the fourth quarter of 2022 and the first half of 2023, the market side demand has not seen signs of improvement, it is too early to see the upcoming fourth quarter as the point of market recovery.
