Apple Attains the Highest Ever Smartphone Market Share in Q4 2022: Report
The smartphone market is on the decline since the first quarter of 2022 and many were anticipating a downward trend for the year to follow. The latest Canalys report validated their claims. In addition to the mobile industry, we have all been forced to endure the ups and downs of a global economy characterized by chip shortages one day and heightened inflation the next.
Smartphone manufacturers are in a similar condition as faced by consumers. While the market exhibited some signals of growth in the third quarter of 2022, global revenues decreased by 3% year-over-year. According to research firm Canalys, global smartphone shipments fell 17% year-over-year in the fourth quarter of 2022, adding significantly to an 11% decline in full-year shipments.
Just when manufacturers overcame significant supply-side obstacles, demand for mid-range and low-end phones accelerated. The premium sector, which has demonstrated resiliency thus far, is also showing signs of weakness. Nonetheless, the Silicon Valley giant Apple was the top performer in terms of market share during the quarter, with a 25% share. It is the highest market share ever recorded by Canalys in comparison to Samsung’s 20% share. On the other hand, Samsung remained the leading OEM in 2022 with 22% of shipments, an increase of two percentage points from the previous year.
As for the future, Canalys analyst Le Xian Chiew anticipates the emergence of smaller players. Furthermore, Xian said,
Though inflationary pressures will gradually ease, the effects of interest rate hikes, economic slowdowns and an increasingly struggling labor market will limit the market’s potential. This will adversely affect saturated, mid-to-high-end-dominated markets, such as Western Europe and North America.
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