Demand in China for smartphones has updated new lows
2023.01.29 05:29
Demand in China for smartphones has updated new lows
By Ray Johnson
Budrigannews.com – According to a report released on Sunday by market research company IDC, China’s smartphone sales in 2022 decreased by 13% year-over-year, marking the sector’s largest decline in a decade due to cautious spending.
286 million devices were shipped in total, down from 329 million in 2022.
IDC stated in a report that this meant that total 2022 sales volume was the lowest since 2013 and that annual sales had fallen below 300 million for the first time since then.
With a market share of 18.6%, Android handset manufacturer Vivo was the most popular brand throughout the year. However, overall shipments decreased by 25.1% year-over-year.
Despite starting from a low base, Honor grew shipments by more than 34% to become the second best-selling brand.
(NASDAQ:) Apple Inc. Together with Oppo, AAPL) was the third most popular smartphone brand in 2022.
Apple’s overall sales decreased by 4.4% year-over-year, outperforming the market decline in most respects.
Researchers wrote that despite iPhones being the most popular brand in the fourth quarter, year-over-year sales were still down as a result of supply chain issues brought on by worker unrest at Foxconn’s Zhengzhou plant and worse-than-expected demand.
China’s strict COVID-19 controls, which took effect in several cities in the spring of 2022, had a significant impact on the country’s economy, which experienced one of its lowest levels in nearly 50 years last year.
The global performance of the sector was reflected in the decline in smartphone sales in China. According to IDC, smartphone shipments worldwide fell by more than 11% year-over-year to 1.2 billion in 2022, the lowest level since 2013.
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