NEW DELHI : Global smartphone sales fell nearly 10% from a year earlier in May, dropping below the 100 million mark for only the second time in a decade as a variety of factors impacted the market.
According to a 30 June report by Counterpoint’s Market Pulse research service, May also marked the 11th consecutive month of decline in smartphone sales.
Sales in May fell to 96 million units, in the second straight sequential decline in global smartphone sales. The market research firm noted that while the shortage in semiconductor chips is starting to ease, other factors such as rising inflation, and uncertainty in Europe due to the Russia-Ukraine war are impacting smartphone sales.
This slowdown in sales, noted Counterpoint, could lead to increased stocks with sellers, in typically fast-moving markets such as India.
In turn, this would cause a slowdown in shipments as sellers would look to clear out existing inventory before shipping new consignments.
Earlier this year, market reports noted that smartphone shipments in India did see a decline, driven by a drop in demand for phones as well as the global supply crisis. In May, experts said that rising device prices, paired with a lack of attractive deals and discounts that the market has long been used to, led to Indian smartphone users prolonging their product upgrade cycles.
While Indians upgraded their phones every six months in 2016, the upgrade cycle currently is at around 24 months.
Tarun Pathak, research director at Counterpoint, said factors such as inflation and the lack of innovation in smartphones are causing users worldwide to defer their phone purchases until.
For all the latest Technology News Click Here
For the latest news and updates, follow us on Google News.
