Global smartphone sales have dropped by 9 percent in quarter 2 of 2022 according to a recent report by Canalys.
The reason for the reduction in smartphone sales is due to economic issues around the world, Samsung was first with a 21% share of the market, then followed by Apple with a 17% share.
“Vendors were forced to review their tactics in Q2 as the outlook for the smartphone market became more cautious,” said Canalys Research Analyst Runar Bjørhovde. “Economic headwinds, sluggish demand and inventory pileup have resulted in vendors rapidly reassessing their portfolio strategies for the rest of 2022. The 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.”
“Falling demand is causing great concern for the entire smartphone supply chain,” said Canalys Analyst Toby Zhu. “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 the near term, vendors will look to accelerate sell-through using promotions and offers ahead of new launches during the holiday season to alleviate the channel’s liquidity pressure. But in contrast to last year’s pent-up demand, consumers’ disposable income has been affected by soaring inflation this year. Deep collaboration with channels to monitor the state of inventory and supply will be vital for vendors to identify short-term opportunities while maintaining healthy channel partnerships in the long run.”
You can see the full report from Canalys regarding the current smartphone market and the sales of devices in quarter 2 at the link below.
Source Canalys
Image Credit: Kenny Leys
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