Canalys has released a new report on the global smartphone market. According to it, the fourth quarter of 2022 was the worst-performing annual and Q4 in a decade.
Although the shipments dropped throughout the year, the brand rankings remained the same. OEMs are cautious regarding the upcoming quarters.
The report states that worldwide smartphone shipments dropped by 17% YoY in Q4 2022. The full-year decline is said to be 11%. Fewer than 1.2 billion smartphones were shipped globally in 2022.
Although Apple came first in the last quarter of 2022, it was Samsung who led the market overall for the entire year. The third, fourth, and fifth places were acquired by Xiaomi, Oppo, and Vivo, respectively.
The difficult macroeconomic environment throughout 2022 resulted in the decline of smartphone shipments, says Canalys Research Analyst Runar Bjørhovde. The demand for low to mid-range segments dropped fast in earlier quarters, and even the demand for the high-end category started showing weakness in Q4 2022.
As per Canalys Research Analyst Le Xuan Chiew, brands will approach 2023 cautiously by prioritizing profitability and protecting market share. They are already cutting costs to adapt to the new market reality. A strong relationship between channel partners and vendors will be important to maintain market shares.
Canalys forecasts flat to marginal growth for the global smartphone market in 2023. Markets like Western Europe and North America will be affected by economic slowdowns, while some regions in Southeast Asia may grow in the second half of 2023.
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