New analysis by a global research board revealed sales data for 2022. Smartphone sales had their worst fourth quarter in years. Although last year was quite a difficult period, Samsung managed to increase its market share.
Why did smartphone sales drop in 2022?
According to a report from International Data Corporation (IDC), the global smartphone industry suffered the largest ever drop in fourth-quarter sales. Smartphone shipments in Q4 of 2022 fell 18.3 percent to 300 million, compared to 367 million in the same period in 2021.
Nabila Popal, director of research at IDC, attributes the decline to weak customer demand and vendors’ stock problems. He also states that high inflation concerns and macroeconomic factors may push the recovery in the smartphone market until the end of 2023.
Despite all this, Samsung managed to sell nearly 10 million Galaxy models by increasing its market share from 18.8 percent to 19.4 percent in the fourth quarter. Just behind it was Apple with 18.8% and Xiaomi with 12.7%.
Smartphone sales figures in 2022 are listed as follows:
- Samsung: 264 million
- Apple: 228 million
- Xiaomi: 156 million
- Oppo: 108 million
- Vivo: 108 million
Another market researcher, Le Xuan Chiew, thinks manufacturers will take more cautious steps in 2023 by prioritizing profitability and maintaining market share. “Tough market conditions can lead to difficult negotiations for both partners and vendors. That’s why building strong partnerships will be important to maintain their market share.”
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