The Russia-Ukraine war, increasing inflation and the chip crisis all over the world have deeply affected smartphone sales. The researchers revealed that all smartphone companies except Samsung and Apple experienced sharp declines in their revenues. Interestingly, however, high-end smartphone shipments were not affected.
Smartphone sales decreased, time to use old phone increased
According to a study conducted by International Data Corp, smartphone sales for the second quarter of the year have been announced. While the shipment figures of Chinese brands such as Xiaomi, Vivo and Oppo decreased, Samsung and Apple managed to survive thanks to phones over 1000 dollars.
For example, Xiaomi shared its financial report for the second quarter of the year. According to the data, Xiaomi’s profit fell 83 percent compared to the same period last year and stood at 1.36 billion yuan ($200 million). Shares of the company also fell 52 percent.
Another report by the Wall Street Journal revealed that the time to use the old phone has increased. According to the WSJ, “smartphones today offer almost the same features” for both teens and adults.
The research covering the years 2015 to 2019 showed that users used a single phone for 20-24 months.
However, the same is not true for high-end smartphones. Counterpoint Research research has revealed that smartphones that cost more than $1,000 will sell more in 2022. The phones in this segment were the Samsung Galaxy Z series and iPhone models.
The decline in the smartphone market is thought to be mostly due to users in China. Pandemic measures, supply chain problems and store closures have led users to replace their smartphones less often.
What do you think about this subject? Don’t forget to share your views with us in the comments!
10207
