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The global smartphone market fell 9% year over year in the second quarter amid waning demand and economic headwinds, according to research firm Canalys.
“Vendors were forced to review their tactics in Q2 as the outlook for the smartphone market became more cautious. Economic headwinds, sluggish demand and inventory pileup have resulted in vendors rapidly reassessing their portfolio strategies for the rest of 2022,” it said. “Oversupplied mid-range is an exposed segment for vendors to focus on adjusting new launches, as budget-constrained consumers shift their device purchases toward the lower end.”
The falling demand should be a cause of concern for the entire smartphone supply chain. “While component supplies and cost pressures are easing, a few concerns remain within logistics and production, such as some emerging markets’ tightening import laws and customs procedures delaying shipments,”
In terms of individual vendors, Samsung remained on top with a 21% market share driven by its lower-end A series supply. Apple was second with a 17% share as the iPhone 13 remained in high demand. Xiaomi, OPPO and vivo continued to struggle in China, suffering double-digit declines to take 14%, 10% and 9% market shares respectively.