Data from Canalys showed global smartphone shipments dropped 17 per cent year-on-year in Q4 2022 and 11 per cent across the whole year due to a difficult macroeconomic environment.
Canalys placed full-year shipments at just less than 1.2 billion units: research analyst Runar Bjorhovde stated the so-called holiday selling period contributed to a reduction in inventory in the final quarter of 2022 due to promotions and incentive schemes, but noted shipments in the period were the worst in a decade.
Fellow research analyst Le Xuan Chiew predicted vendors would take a cautious approach in 2023 by prioritising profitability and protecting market share.
Canalys predicts flat-to-marginal growth this year.
Chiew stated inflationary pressures would gradually ease, but the effects of interest rate hikes, economic slowdowns and an increasing employment struggles will limit the market’s potential.
Canalys noted the conditions will adversely affect saturated markets dominated by mid-to-high-tier devices including Western Europe and North America, and predicted continued near-term constraints on demand in China.
The research company noted Apple reclaimed the top spot in Q4 with it’s highest-ever market share of 25 per cent despite manufacturing issues in China.
Samsung was second with a 20 per cent market share and Xiaomi remained third on 11 per cent.
