Q2 global smartphone market shipments down 9%
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Update time : 2022-07-23 18:04:32
Global smartphone shipments declined 9% year-over-year in the second quarter of 2022. Market demand has started to shrink amid economic turmoil and regional uncertainties. Thanks to enhanced supply of low-end A-series models, Samsung topped the list with 21% market share. With strong demand for the iPhone 13, Apple came in second with a 17% market share. Xiaomi, OPPO and Vivo continued to face market demand adjustments in China, suffering large declines with market shares of 14 percent, 10 percent and 9 percent, respectively.
As the outlook for the smartphone market declined, vendors were forced to review their growth strategies in the second quarter," said Canalys research analyst Runar Bjørhovde. Economic turmoil, low demand and inventory buildup are causing vendors to quickly adjust their product portfolios for the second half of 2022. With consumers' budgets tightening, a portion of demand will shift to low-end products, while the oversupplied mid-range will be the price range in which vendors focus on adjusting their product launches."
Canalys analyst Toby Zhu said, "The decline in demand is causing significant concern across the smartphone supply chain. While component availability and cost pressures are easing, there are still some concerns on the logistics and production side, such as tighter import laws and regulations and customs in some emerging markets that are causing delays in shipments. In the short term, manufacturers will look to use promotions and offers to accelerate sales of older products before the year-end release of new products to ease liquidity pressures in the channel. However, consumer disposable income has been impacted by soaring inflation this year compared to last year's pent-up demand. Deepening collaboration with the channel to monitor inventory and supply conditions in real time will be critical for vendors to identify short-term opportunities while maintaining a healthy channel partnership over the long term."
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