February 1, 2023
World smartphone market tumbles a 3rd consecutive time this yr

Samsung retained its main place with a 22% market share pushed by heavy promotions to scale back channel stock.

Samsung retained its main place with a 22% market share pushed by heavy promotions to scale back channel stock.

The worldwide smartphone market struggled with its third consecutive decline this yr amid turbulent world financial situations.

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Smartphone market dropped within the September-ending quarter falling 9% from the identical time within the earlier yr. 

World smartphone market tumbles a 3rd consecutive time this yr

Credit score: Canalys

“The gloomy financial outlook has led customers to delay buying digital {hardware} and prioritise different important spending,” Canalys stated in a weblog on Tuesday. 

Smartphone distributors have been challenged by rising inventories on account of low client demand. 

They’ve tried to scale back the bulging inventories via aggressive discounting and promotions.

“The smartphone market is very reactive to client demand and distributors are adjusting rapidly to the cruel enterprise situations,” Canalys Analyst Amber Liu, stated within the weblog. 

“For many distributors, the precedence is to scale back the danger of stock build up given deteriorating demand, she added. 

Samsung retained its main place with a 22% market share pushed by heavy promotions to scale back channel stock.

Apple was the one vendor within the high 5 to see constructive progress, enhancing its market place additional with an 18% share on account of comparatively resilient demand for iPhones.

The analysis agency expects the low demand to dampen the smartphone marketplace for the subsequent six to 9 months.

Demand reveals no indicators of enchancment shifting into the final quarter of this yr and first half of subsequent yr. In comparison with the sturdy demand interval of the earlier yr, a sluggish however regular festive sale is anticipated in This autumn 2022, stated Sanyam Chaurasia, Canalys Analyst. 

Shoppers can anticipate steep reductions and bundling promotions in addition to important worth reductions on older era gadgets, going into the gross sales season, he added. 

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