Canalys: smartphone market sharply declined in Q2

Samsung
Tamsin Rodriguez29 July 2022Last Update : 2 weeks ago
Canalys: smartphone market sharply declined in Q2

Smartphone sales fell in Q2, Canalys reported. Global shipments fell to 287 million units. Samsung remained in the lead, while Apple reclaimed second place from Xiaomi as Chinese companies struggled to respond to dwindling demand.

Samsung and Apple could have registered small improvements on a year-on-year basis, but it is the Chinese companies that drag the entire market into the red. China had a series of lockdowns during the quarter, disrupting its smartphone market and hurting local brands that have a strong presence there.

Canalys also reports a decline in the smartphone market in Q2, claiming 9% fewer shipments

Analysts predict that supply chain shortages will no longer be the pressing issue for the industry as component orders fall and suppliers worry about oversupply. The situation requires more from companies to adapt and plan accordingly, including measures such as extra savings and competitive products launched in the second half of the year.

Predictions for H2 2022 are for demand to remain weak despite upcoming launches and festival sales. Several key reasons are the challenging business conditions with a strong US dollar, geopolitical issues, Chinese companies struggling in a large market like India, and high inflation around the world.

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