Reasons for decline in the smartphone market
The report suggests that the demand constraints in the market is one of the reasons for the decline in the smartphone shipments. Along with this, the roaring inflation and economic uncertainty across the globe has dampened consumer spending and increased inventory across all regions. Original Equipment Makers (OEMs) have cut back orders for the rest of the year. The Chinese vendors lead this list, making the biggest cuts as their largest market continues to struggle. The report, however, has a silver lining as it sees demand picking up by the end of this year.
“From a regional standpoint, the largest second quarter decline was in Central and Eastern Europe (CEE), as expected, with a 36.5% year-over-year drop as the war in Ukraine continues to hurt the sales in the region. However, from a volume standpoint, CEE only accounts for 6% of global shipments. So the biggest hit on volumes globally came from China, which declined 14.3% year over year.
The top companies in the smartphone market
The challenging environment, however, did not bring any change in the vendor position in terms of leadership. Samsung continues to lead the market with 21.8% market share.
Apple grabbed the second position with 15.6% market share. Chinese smartphone maker Xiaomi held third position with 13.8% market share. The fourth position saw a tie between Chinese brands Oppo and Vivo with 8.6% and 8.7% market share respectively.
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