Big decline in the smartphone market in the last quarter of 2022
Where is it due to?
The global smartphone market saw a major decline in the last quarter of 2022. According to IDC , the market shrank by 18.3%, with just 300.3 million smartphones reaching store shelves.
All five of the top manufacturers saw double-digit declines from the final quarter of 2021, and the combined figure is the largest quarterly decline on record.
The fourth quarter dragged down the full year’s performance, with 2022 down 11.3% from 2021. Overall, 1.21 billion smartphones were sold in 2022 and 1.36 billion in 2021.
In the fourth quarter Apple came out on top with a 24.1% market share. They were followed by Samsung with 19.4%, Xiaomi with 11%, Oppo with 8.4% and vivo with 7.6%.
In the whole year, the first place is occupied by Samsung with 21.6%, followed by Apple with 18.8%, Xiaomi with 12.7%, Oppo with 8.6% and vivo with 8.2%. The remaining manufacturers share the remaining 30.1%.
Analysts attribute the fall in demand to rising inflation and consumer caution in spending. In addition, consumers are holding on to their devices for longer, with many users now having a device refresh cycle every 40 months (3.3 years).
