Apple Leads Smartphone Market in Q3 2022 on Falling Demand: IDC

Global smartphone shipments reportedly fell 18.3 percent year-on-year (YoY) in the fourth quarter of 2022. Falling consumer demand, high inventories and market uncertainties are said to be the main reasons behind the drop in shipments, according to a survey conducted by International Data Corporation (IDC) Global Quarterly Cell Phone Tracker. While Apple led global smartphone shipments in the fourth quarter with a 24.1 percent market share, Samsung and Xiaomi ranked second and third with 19.4 percent and 11 percent market share, respectively.

According to a report released According to IDC’s Worldwide Quarterly Mobile Phone Tracker, global smartphone shipments fell 18.3 percent year-on-year to 300.3 million units in the fourth quarter of 2022 (4Q22). The quarterly drop between October and December 2022 is said to be the biggest drop ever in a single quarter. This has also resulted in an overall decline of 11.3 percent for 2022. The company’s head of research cites decreased consumer demand and high inventories as two key reasons for the decline.

The report also details the smartphone manufacturing ecosystem, with Apple leading the way with 24.1 percent of the smartphone shipments market share. Samsung and Chinese smartphone manufacturer xiaomi have 19.4 percent and 11 percent of the market share, according to the report. oppo and live is said to rank fourth and fifth in terms of smartphone shipments.

The report goes on to say that smartphone shipments for 2022 completed at 1.21 billion units, which is the lowest total annual shipment since 2013. He adds that these companies need to push for a 2.8 percent recovery this year while warning of downside risks to the forecast. “On the positive side, however, consumers will find even more generous trade-in offers and promotions that will continue well into 2023 as the market thinks about new methods to drive upgrades and more devices, particularly high-end models sell,” the report said.

A poll last month released) by market research firm Counterpoint Research indicated that shipments of Made in India smartphones fell by 8 percent year-on-year (YoY) between July and September 2022. According to the report, Oppo has the highest market share in made-in smartphone shipments in India in Q3 with 24 percent, followed by Samsung and Vivo.