A million layoffs and rising inflation have shown that consumers are not interested in spending big on a new smartphone. International Data Corporation has released its latest figures for global smartphone sales for Q4 2022, which is a disaster. Shipments fell 18.3% year-on-year, the biggest drop ever in a single quarter, and trailed the year by 11.3%. Annual cell phone shipments are his 1.21 billion, according to IDC, which is his lowest annual shipment since 2013.
Of course, Apple was the least impacted in the top five (in order of Apple, Samsung, Xiaomi, Oppo, and Vivo) in Q4 2022, but not by much. Apple fell 14.9% year-on-year in his fourth quarter of 2022, Samsung fell 15.6%, and a crushing Xiaomi fell 26.5%. This year, Samsung remained number one with 21.6% market share, Apple was second with 18.8%, and Xiaomi was third with 12.7%.
IDC also noted that consumers are sticking with their smartphones longer than ever before, meaning “refresh rates,” or the time it takes people to buy a new smartphone, are “rising.” .[ing] Last 40 months in most major markets. The report concludes: “2023 is set to be a cautious year as vendors rethink their device portfolios while channels reconsider before accepting excess inventory. The offers and promotions will continue through 2023 as we think of new ways to market our devices, especially our high-end models.”
