Global Smartphone Shipments 2022 Drop by 17% in Q4
According to the latest reports, the global smartphone industry capped off another dismal year with a 17% year-over-year drop for Q4. The bad piece of news is that this number puts the full year’s shipping figures 11% below 2021. Canalys refers to this year as an extremely challenging one for all vendors because Global Smartphone Shipments 2022 were the lowest in the whole decade.
Global Smartphone Shipments 2022 Dropped by 17% YOY in Q4
The point worth mentioning here is that the smartphone industry is facing a very rough time since the pandemic. The pandemic and its various knock-on effects have been continuing to toss up roadblocks. For 2022, the same macroeconomic factors that have impacted practically every facet of life took their own toll on the smartphone industry as well. The point notable here is that the global phone shipments figure for the quarter and the year were at their lowest in nearly a decade. The firm stated:
“we have to go back to 2013 to find lower numbers — and back then the market situation was very different as the technology was a lot more emerging.”
“The channel is highly cautious with taking on new inventory, contributing to low shipments in Q4. Backed by strong promotional incentives from vendors and channels, the holiday sales season helped reduce inventory levels. While low-to-mid-range demand fell fast in previous quarters, high-end demand began to show weakness in Q4. The market’s performance in Q4 2022 stands in stark contrast to Q4 2021, which saw surging demand and easing supply issues.”
When finally the supply chain constraints began to ease up, the additional external forces reversed the positive trends. The company doesn’t expect much in the way of rebounding for the remainder of 2023 either. It predicts that growth will be “flat to marginal,” as economic uncertainty and inflation remain. No doubt, unemployment, interest rate hikes, and other problems have an adverse effect on “mid-to-high-end-dominated markets”, especially in North America and parts of Europe. So, let’s see will the global smartphone market goes back to good performance days or not. Stay tuned for more info.
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