slide in smartphone shipments Has sustained. According to the latest report of the market research firm IDCWhole world smart fone Shipments declined 8.7% year-on-year in the second quarter of 2022. This is the fourth consecutive quarter of decline smartphone market, The report said that shipments fell to 286 million units.
Reasons for the decline in the smartphone market
The report suggests that lack of demand in the market is one of the reasons for the decline in smartphone shipments. Simultaneously, rising inflation and economic uncertainty around the world have reduced consumer spending and increased inventory across sectors. Original Equipment Manufacturer (OEM) has cut orders for the rest of the year. Chinese sellers lead the list, making the biggest cuts while their biggest market continues to struggle. However, there is a ray of hope in the report as the demand is expected to pick up by the end of this year.
“From a regional perspective, the biggest second quarter decline was Central and Eastern Europe (CEE), as expected, down 36.5% year-on-year, as the war in Ukraine is hurting sales in the region. However, from the point of view of quantity, CEE It accounts for only 6% of global shipments. So the biggest hit on volumes globally came from China, which declined 14.3% year over year.
Top companies in the smartphone market
However, the challenging environment did not alter the seller’s position in terms of leadership. samsung continues to lead the market with 21.8% market share.
Apple took second place with 15.6% market share. Chinese Smartphone Manufacturers Xiaomi Ranked third with 13.8% market share. The fourth spot saw a tie between Chinese brands Oppo and Vivo with 8.6% and 8.7% market share respectively.
Also read: Over 5 crore Indians now have a 5G-enabled phone. Click Here to read more
Reasons for the decline in the smartphone market
The report suggests that lack of demand in the market is one of the reasons for the decline in smartphone shipments. Simultaneously, rising inflation and economic uncertainty around the world have reduced consumer spending and increased inventory across sectors. Original Equipment Manufacturer (OEM) has cut orders for the rest of the year. Chinese sellers lead the list, making the biggest cuts while their biggest market continues to struggle. However, there is a ray of hope in the report as the demand is expected to pick up by the end of this year.
“From a regional perspective, the biggest second quarter decline was Central and Eastern Europe (CEE), as expected, down 36.5% year-on-year, as the war in Ukraine is hurting sales in the region. However, from the point of view of quantity, CEE It accounts for only 6% of global shipments. So the biggest hit on volumes globally came from China, which declined 14.3% year over year.
Top companies in the smartphone market
However, the challenging environment did not alter the seller’s position in terms of leadership. samsung continues to lead the market with 21.8% market share.
Apple took second place with 15.6% market share. Chinese Smartphone Manufacturers Xiaomi Ranked third with 13.8% market share. The fourth spot saw a tie between Chinese brands Oppo and Vivo with 8.6% and 8.7% market share respectively.
Also read: Over 5 crore Indians now have a 5G-enabled phone. Click Here to read more