Samsung, Apple and Xiaomi leading the market despite the large decline of the entire market in the second quarter | ICT Business | TechBuzz

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Samsung, Apple and Xiaomi leading the market despite the large decline of the entire market in the second quarter

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Global smartphone shipments fell to 287 million units in the second quarter of 2022, according to the latest report from Canalys. This is the lowest quarterly figure since the second quarter of 2020, when the pandemic first hit and slowed down the entire market.

Samsung led the market with 61.8 million smartphones shipped and a 21 percent market share. Despite the weak season, Apple maintained second place, shipping 49.5 million iPhones for a 17 percent market share. Xiaomi remained in third place with 39.6 million units, while OPPO and vivo rounded out the top five with 27.3 and 25.4 million units, respectively.

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“The global smartphone market is suffering a second period of declining shipments after a brief recovery in 2021, with a sharp drop in demand hitting leading vendors,” Canalys Research analyst Runar Bjørhovde said.

“Despite annual growth of 6 percent, Samsung’s shipments fell 16 percent from the previous quarter as the manufacturer struggled with poor inventory levels, particularly in the mid-range. Meanwhile, solid demand for the iPhone 13 series in North America, China, and Europe has allowed Apple to grow despite market woes. The premium class of smartphones has proven relatively resilient during the recession, while promotions and financing options have further helped affordability,” explains Bjørhovde.

“Major Chinese suppliers managed to stabilize their global performance compared to last quarter despite another round of double-digit year-on-year contractions,” Canalys analyst Toby Zhu said.

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“Supply chain shortages are no longer the most pressing issue as component orders are rapidly shrinking and suppliers have begun to worry about oversupply. This has resulted in lower prices for key components, which lowers costs for suppliers. There will be increasing tensions throughout the smartphone supply chain as weakness in demand is likely to continue for an extended period of time,” concludes Zhu.

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