According to market research firm Canalys, worldwide smartphone shipments decreased by 9% in the three months ending in September, extending a trend that has continued through the full year 2022.
According to Canalys, the demand trend will probably continue to decline for a further nine months.
Consumer appetites have been hampered this year by interest rate increases and rising energy costs, with China’s slowing economy and COVID-19 lockdowns playing a significant part in stifling smartphone sales.
This year, domestic companies like Xiaomi Corp., Vivo, and Oppo have all seen double-digit sales declines, with only Apple Inc.’s iPhone exhibiting market resiliency.
With 22 percent of the market, Samsung Electronics Co., which has little presence in China, managed to maintain its top spot globally, according to the data. This was made possible by aggressive discounts and promotions. Oppo and Vivo recorded lower shares than last year, while Apple, whose iPhone 14 series went on sale in September, increased its share to 18%.
Consumers who have put off purchases would anticipate strong discounts and bundling campaigns as well as considerable price reductions going into the holiday shopping season, according to Canalys analyst Sanyam Chaurasia. “A modest but consistent Christmas sale is forecast in the fourth quarter, compared to the robust demand time of the previous year.”
Apple has abandoned plans to boost manufacturing of its iPhone 14 product line, Bloomberg News reported last month, despite the fact that it was the company with the largest growth in market share during the third quarter.
