As per reports, the shipments of the global smartphone market declined by 9% YoY reaching 294.5 million units. Deteriorating economic conditions worsened because of the war in Ukraine, showing an uncertainty in the industry that has not yet fully recovered from the COVID-19 pandemic and chip shortages.
Associate Director Jan Stryjak said “Samsung was the only top-five vendor that managed to grow over the year, retaining its top spot, growing 8% year-on-year and gaining three percentage points of market share to 21%. Apple experienced a relatively small decline of 5% year-on-year due to macroeconomic headwinds, particularly in China. Shipments of Xiaomi, OPPO* and vivo, however, fell by 25%, 15% and 22% respectively.”
Senior Analyst Harmeet Singh Walia noted, “Outside the top five, there was also a mixed bag of results. But the clear winner was HONOR, which became the sixth largest smartphone vendor globally (from eighth in Q2 2021) with year-on-year shipment growth of 79% in Q2 2022. This is primarily due to the re-establishment of the brand’s relationships with component players. Transsion Group’s brands TECNO and Infinix also posted shipment growth of 2% and 16% respectively over the year. Offering phones with enhanced design and improved specs paid dividends, as did their strategy to continue incentivising distributors while few other brands are doing so.”
