Global Smartphone Revenue Fall By 9% In 2022: Report

The world smartphone income declined by 9 per cent, amounting to $409 billion in 2022, the bottom since 2017, a brand new report has stated.

According to Counterpoint Research, the worldwide smartphone market declined by 18 per cent (year-over-year) to achieve 304 million models in This autumn 2022.

“The smartphone market remained below strain within the fourth quarter of 2022 because the cost-of-living disaster, scarcity within the labour market and a decline in customers’ buying energy resulted in double-digit declines within the shipments of every of the highest 5 smartphone gamers,” said Senior Analyst Harmeet Singh Walia.

Moreover, Apple achieved an all-time high revenue share of 48 per cent in 2022, and also captured the highest-ever operating profit share of 85 per cent.

“Having proficiently managed its production problems, Apple was able to weather a year already marred by economic and geopolitical turmoil better than other major smartphone players,” stated Research Director Jeff Fieldhack.

Chinese smartphone gamers suffered from home lockdowns for a lot of the yr along with going through world financial and geopolitical difficulties, stated the report.

As a end result, the shipments of Xiaomi, OPPO and Vivo fell by greater than 20 per cent every.

Despite providing premium telephones at aggressive margins, Chinese manufacturers have but to interrupt into the premium market and have been unable to totally capitalise on Huawei’s decline, the report added.

Read all of the Latest Tech News right here

(This story has not been edited by News18 workers and is revealed from a syndicated news company feed)