Market watchers say that the smartphone segment in 2022 has recorded the worst Q3 since 2014 in terms of global shipments. The market declined 9% year-on-year, marking a third consecutive quarterly decline. Samsung remained the top smartphone vendor globally. The Korean company was followed by Apple, Xiaomi, Oppo, and Vivo.
Samsung and Apple are the only two smartphone vendors that have improved their market shares, shipment-wise, in Q3 2022 compared to a year ago. Samsung's share increased by roughly 1% to 22%. Apple's performance was more impressive, having increased its smartphone shipment market share from 15% to 18% compared to last year. (via Canalys)
All other top smartphone vendors have either stagnated or declined. Xiaomi maintained a 14% market share; Oppo lost 1% and accounted for 10% of the market; Vivo dropped from 11% to 9%.
The smartphone market might recover slightly in Q4
One reason why the smartphone market didn't decline more than 9% year-on-year is that Samsung and a few other OEMs have offered various deals and discounts over the past couple of quarters. As demand decreased due to the declining economy, OEMs like Samsung and Apple have cautiously approached the market with better deals and fewer price hikes.
This trend may continue throughout the rest of the year, particularly as we approach the sales season. Market watchers say that consumers who have held off from buying new phones this year will have opportunities to save big on smartphones and bundles during the sales season in Q4. Even so, demand in Q4 is expected to be “slow but steady.”
