Apple Only Firm to See Growth in Smartphone Market in Q3 Despite Fall in Sales: Canalys

Economic uncertainty and lower consumer spending are expected to affect the smartphone market for the next six to nine months.

Apple Only Firm to See Growth in Smartphone Market in Q3 Despite Fall in Sales: Canalys

Photo Credit: Facebook/ Apple

Samsung secured a lion's share of worldwide smartphone sales

  • Apple was in second place in global smartphone sales
  • The firm managed to grow its share to 18 percent in Q3
  • Xiaomi had a 14 percent market share in Q3 2022

Global smartphone shipments declined 9 percent year-on-year (YoY) for the July-September period (Q3) in 2022, shows a new report by market research firm Canalys. Following past trends, Samsung had the major share of the worldwide smartphone shipments. Apple was in second place, followed by Chinese smartphone brands including Xiaomi, Oppo, and Vivo in the top five spots. The Cupertino-based company was the only brand that registered positive growth in its market share despite the fall. Canalys observes that robust demand for iPhone models helped the company to mark positive yearly growth. Canalys said that a gloomy economic outlook has led consumers to delay purchasing electronic hardware and prioritise essential spending.

The report by Canalys said that worldwide smartphone shipments dropped 9 percent year-on-year amid unfavourable economic conditions and decreased consumer spending in the third quarter. This is the worst quarterly result since Q3 2014, noted the report. Canalys analysts expect smartphone demand to remain dull for the next six to nine months with more consumers shifting their focus from "electronic hardware" purchases to "essential spending".

Samsung emerged as the largest contributor to worldwide smartphone shipments in the third quarter of 2022 with a 22 percent market share compared to 21 percent in Q3 2021, driven by heavy promotions to reduce channel inventory. Apple though gained more than the market share of Samsung. The iPhone maker was the only vendor in the race to see positive growth despite the overall decline in shipments. With the growing demand for its iPhone models, the Cupertino company captured an 18 percent market share in the mentioned period, up from 15 percent a year ago.

Xiaomi got a 14 percent market share, while Oppo and Vivo received 10 percent and 9 percent global market shares, respectively. As per the report, Chinese smartphone brands took a cautious approach to overseas expansion given domestic market uncertainty.

Canalys analyst Sanyam Chaurasia indicated that companies will need to regulate production forecasts with the supply chain. “As demand shows no signs of improvement moving into Q4 and H1 2023, vendors have to work on a prudent production forecast with the supply chain while working closely with the channel to stabilize market share,” he said.

Canalys analysts also predict slight signs of improvement in smartphone demand in Q4 this year. "Compared to the strong demand period of the previous year, a slow but steady festive sale is anticipated in Q4 2022. However, it will be too soon to see the upcoming Q4 as the real turning point of market recovery” noted the report.

Buying an affordable 5G smartphone today usually means you will end up paying a "5G tax". What does that mean for those looking to get access to 5G networks as soon as they launch? Find out on this week's episode. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
Affiliate links may be automatically generated - see our ethics statement for details.

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Nithya P Nair
Nithya P Nair is a journalist with more than five years of experience in digital journalism. She specialises in business and technology beats. A foodie at heart, Nithya loves exploring new places (read cuisines) and sneaking in Malayalam movie dialogues to spice up conversations. More
Satya Nadella Receives Padma Bhushan in the US Ahead of Plans to Visit India in January
Share on Facebook Gadgets360 Twitter Share Tweet Snapchat Share Reddit Comment google-newsGoogle News


Follow Us
© Copyright Red Pixels Ventures Limited 2024. All rights reserved.
Trending Products »
Latest Tech News »