IDC: Smartphone market sees unprecedented 18.3% decline during 2022’s last quarter
That IDC Smartphone Tracker reported a rather strange record for worldwide smartphone shipments for Q4 2022, as the market fell 18.3% to 300.3 million shipments. All five major brands faced double-digit year-over-year declines compared to Q4 2021, and the combined figure represents the largest quarterly decline.
The large drop in shipments in Q4 contributed to the 11.3% year-over-year decline compared to 2021 figures. In total, 1.21 billion smartphones were shipped in 2022 compared to 1.36 billion in 2021.
|company||Q4 2022 shipments (millions)||4th quarter 2022 market share||Q4 2021 shipments (millions)||Market share in the 4th quarter of 2021||Annual growth|
Focusing on the preliminary figures for 4.2022, Apple again led the market with 72.3 million shipments and a market share of 24.1%. Samsung was second with 58.2 million phones shipped and a 19.4% market share. Xiaomi came in third with 33.2 million shipments and 11% of the market, and the company saw the biggest drop in shipments compared to its Q4 2021 values of -26.3%. Oppo (25.3 million) and vivo (22.9 million) rounded out the top five positions.
Total shipment figures for the year 2022 show Samsung as the leader with 260.9 million units and a market share of 21.6%. Apple was second with 226.4 million and 18.8% of the market, while Xiaomi secured 153.1 million shipments and a 12.7% cut of the entire market.
|company||2022 shipments (millions)||2022 market share||2021 shipments (millions)||2021 market share||Annual growth|
Oppo (103.3 million) and vivo (99 million) round out the top five with the two companies seeing the biggest annual declines at -22.7% and -22.8% respectively.
Commenting on the plummeting shipment values, IDC analysts suggest that falling consumer spending and increased inflation levels were the main reasons for the reduced demand for new devices. Users also keep devices for longer, with the refresh rate cycle jumping to 40 months (3.3 years) for some users. Going forward, IDC predicts that vendors will try to rethink their device portfolios, while retail channels will need to do a better job of allocating their existing inventory.