The dive seems endless. The smartphone market outlook for 2022 is still bad. After a tepid first quarter, with a global decline of 8.9%, the decline continues with an 8.7% year-over-year decline, according to analyst firm IDC. Or sold 286 million units, up from nearly 314 million at the start of the year. This is the fourth consecutive quarter of decline.
Samsung continues to lead the rankings with a 21.8% market share, thanks to a 5.6% increase in sales, or 62.4 million handsets sold. Apple follows with 15.6% market share, closely followed by Xiaomi. The number one Chinese, however, shows a decline of more than 25% in its sales and weighs a “mere” 13.8% of the global market. Vivo and Oppo, the Chinese brands that round out the top five, also saw their sales decline by around twenty percent.
Smartphones that last longer
From a regional perspective, the largest decline was recorded in Eastern and Central Europe, which recorded a decline of 36.5 percent. An indicator that was predictable with the war in Ukraine, which slows down the economy of that area. The Chinese market shows the biggest decline with 14.3%. The last time the Chinese market was this low was in 2012 when the iPhone 5 was launched, with regions other than Canada and Asia seeing smaller declines.
Manufacturers initially suffered from component shortages and supply chain problems. Today, production is restarting, but demand is decreasing. “While supply has improved and manufacturing capacity has strengthened, raucous inflation and economic uncertainty have chilled consumers everywhere.”concludes Nabila Popal, director of research at IDC. The outlook predicting a 3.5% decline in the smartphone market in 2022 should be revised lower due to lack of demand.
Consumption habits have changed. Consumers are keeping their devices longer, and they’re also turning more to refurbished, especially in mature markets. Good prices, good warranties, less environmental impact, consumers benefit. With inflation, people are spending less on electronics and saving money by keeping their laptops. As a result, the sales volume decreases.
Source: Le Figaro
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.