Smartphone Industry Sees Worst Quarterly Decline in 2022
According to a new analysis from the IDC Smartphone Tracker, the market for global smartphone sales fell significantly in the fourth quarter of 2022, falling by 18.3% to 300.3 million shipments.
This represents the greatest quarterly fall ever recorded, with double-digit annual decreases for all 5 main brands compared to Q4 2021.
With 1.21 billion smartphones shipped in 2022 compared to 1.36 billion in 2021, the Q4 shipment decline also led to a year-over-year decline of 11.3%.
|Company||Q4 2022 shipments (million)||Q4 2022 market share||Q4 2021 shipments (million)||Q4 2021 market share||Annual growth/decline|
According to data from the fourth quarter of 2022, Apple once again held the market’s top spot with 72.3 million shipments and a 24.1% market share. With 58.2 million sold phones and a 19.4% market share, Samsung came in second place.
With 33.2 million shipments and 11% of the market, Xiaomi emerged in third place, although its shipping numbers fell the most, by a whopping -26.3%, from their levels in Q4 2021. Oppo and Vivo also made the top 5 with 25.3 million and 22.9 million shipment, respectively.
Samsung came out on top when the combined shipment numbers for 2022 were examined, with 260.9 million devices and a 21.6% market share. With 226.4 million shipments and 18.8% of the market, Apple came in second, followed by Xiaomi with 153.1 million shipments and a 12.7% market share. The highest annual reductions were recorded by Oppo and Vivo, with 103.3 million and 99 million shipments, respectively.
|Company||2022 shipments (million)||2022 market share||2021 shipments (million)||2021 market share||Annual growth/decline|
IDC analysts claim that growing inflation and reducing consumer spending can be connected to declining shipping values, which will reduce the need for new items.
Moreover, customers are maintaining their devices for a longer period of time, with some users using them for up to 40 months (3.3 years).
According to IDC, businesses will eventually need to reassess their device portfolios, and retail establishments will need to manage their current inventories more effectively.
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