According to a report released by Canalys, there has been a dip of 11% in worldwide smartphone sales during the first quarter of 2022. The primary reason of this decline is due to adverse market conditions including Russia-Ukraine war, China imposing lockdowns in the country due to COVID and continuous global inflation.
In its report, the Analyst at Canalys, Sanyam Chaurasia stated:
“Markets saw a spike in COVID-19 cases due to the Omicron variant; though minimal hospitalizations and high vaccination rates helped normalize consumer activity quickly. Vendors face major uncertainty due to the Russia-Ukraine war, China’s rolling lockdowns, and the threat of inflation. All this added to traditionally slow seasonal demand”
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Samsung and Apple take the lion’s share
Two tech giants in the space of smartphone devices, Samsung and Apple led the market share with 24% and 18% respectively. During the last quarter of 2021, Samsung registered a market share of 19%. However, due to its revamped portfolio and increasing demand of S22, the South Korean company recorded an increase of 5% in the market share during Q1 of 2022.
On the other hand, Apple displayed solid performance largely because of its hot-selling series i.e. iPhone 13 series. Xiaomi grabbed 13% of the market chunk during the same period particularly because Redmi Note Series attracted great demand. Furthermore, Oppo (including OnePlus) and Vivo led the No. 4 and No. 5 position with 10% and 8% respectively.
While speaking about Apple’s hot-selling iPhone 13 series, Analyst Sanyam Chaurasia commented:
“While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple. At a similar price point to its predecessor, it offers an upgraded chipset. It contains improved battery performance and adds the 5G connectivity that operator channels are demanding”
Importantly, all smartphone manufacturers have displayed superb resilience to expand their horizon despite all the uncertainties hovering around. It is anticipated that adverse market conditions will improve greatly in the near future. Resultantly, the second quarter of 2022 is expected to yield better results.