The going has not been too good for smartphones globally. The last two quarters saw a decline in shipments and the third quarter of 2022 couldn’t arrest the decline, according to a report by Canalys. The global shipments declined 9% year-on-year in Q3 2022, which made it the worst Q3 in eight years.
Why are smartphones seeing a decline?
According to Canalys, the “gloomy economic outlook has led consumers to delay purchasing electronic hardware and prioritize other essential spending.”
How are brands like Apple, Samsung others doing?
Samsung continues to be number one in the world and garnered 22% market share. Canalys believes that Samsung’s market share was driven by “heavy promotions to reduce channel inventory.”
According to Canalys, Apple was the only vendor in the top five to record positive growth. Apple improved its market position and commanded 18% market share “thanks to relatively resilient demand for iPhones.”
The likes of Xiaomi, Oppo, Vivo, as per Canalys, continued to take a cautious approach to overseas expansion given domestic market uncertainty, retaining 14%, 10% and 9% global market shares, respectively.
Why are smartphones seeing a decline?
According to Canalys, the “gloomy economic outlook has led consumers to delay purchasing electronic hardware and prioritize other essential spending.”
How are brands like Apple, Samsung others doing?
Samsung continues to be number one in the world and garnered 22% market share. Canalys believes that Samsung’s market share was driven by “heavy promotions to reduce channel inventory.”
According to Canalys, Apple was the only vendor in the top five to record positive growth. Apple improved its market position and commanded 18% market share “thanks to relatively resilient demand for iPhones.”
The likes of Xiaomi, Oppo, Vivo, as per Canalys, continued to take a cautious approach to overseas expansion given domestic market uncertainty, retaining 14%, 10% and 9% global market shares, respectively.
How does the next quarter look like for smartphone market?
Analysts at Canalys believe that the gloomy economic outlook will likely continue to dampen the smartphone market for the next six to nine months. “As demand shows no signs of improvement moving into Q4 and H1 2023, vendors have to work on a prudent production forecast with the supply chain while working closely with the channel to stabilise market share,” said Canalys Analyst Sanyam Chaurasia.
“The smartphone market is highly reactive to consumer demand and vendors are adjusting quickly to the harsh business conditions,” said Canalys Analyst Amber Liu.
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