On October 19, 2022, Canalys released a report on Q3 2022 global smartphone market. According to the latest stats, the market declined this year, dropping 9% year-on-year, marking the worst Q3 since 2014.
Samsung is in the top position with a 22% market share driven by heavy promotions to reduce channel inventory. In the second position, iPhone maker Apple was the only vendor in the top five to record positive growth with 18%.
While Xiaomi, OPPO, and Vivo continued to take a cautious approach to overseas expansion given domestic market uncertainty, retaining 14%, 10%, and 9% global market shares, respectively.
“The smartphone market is highly reactive to consumer demand and vendors are adjusting quickly to the harsh business conditions,” said Canalys Analyst Amber Liu.
“As demand shows no signs of improvement moving into Q4 and H1 2023, vendors have to work on a prudent production forecast with the supply chain while working closely with the channel to stabilize market share,” said Canalys Analyst Sanyam Chaurasia.
