Worldwide smartphone shipments fell 11 percent amid unfavorable economic conditions and sluggish seasonal demand in the first quarter of 2022. Samsung led the market with a 24 percent share, up from 19 percent in Q4 2021 as the vendor revamped its 2022 portfolio. Apple came second, with a solid Q1 thanks to the growing demand for its iPhone 13 series. Also Read - iPhone tricks: How to lock apps on iPhone with a Passcode
According to market research firm Canalys, Xiaomi stayed in third place due to the stellar performance of its Redmi Note series. OPPO (including OnePlus) and Vivo completed the top five with 10 percent and 8 percent shares. Also Read - Samsung Galaxy A Fold series to launch at a budget pricing
“Despite the looming uncertainty in global markets, the leading vendors accelerated their growth by broadening device portfolios for 2022,” said Canalys Analyst Sanyam Chaurasia. Also Read - Xiaomi Band 7 Pro to launch on July 4: Here's what to expect
While the iPhone 13 series continues to capture consumer demand, the new iPhone SE launched in March is becoming an important mid-range volume driver for Apple. At a similar price point to its predecessor, it offers an upgraded chipset and improved battery performance and adds the 5G connectivity that operator channels are demanding.
At the same time, Samsung ramped up production of its popular A series to compete aggressively in the mid-to-low-end segment while refreshing its 2022 portfolio, including its flagship Galaxy S22 series. While Chinese vendors are still suffering supply constraints at the low end, their global expansion is being hampered by a slowdown in their home market.
“The global smartphone market was held back by an unsettled business environment in Q1. Markets saw a spike in COVID-19 cases due to the Omicron variant, though minimal hospitalizations and high vaccination rates helped normalize consumer activity quickly. Vendors face major uncertainty due to the Russia-Ukraine war, China’s rolling lockdowns and the threat of inflation. All this added to traditionally slow seasonal demand,” Canalys VP Mobility Nicole Peng noted.
In addition, the painful component shortages might improve sooner than expected, which will certainly help relieve cost pressures.
Meanwhile, Canalys has also revealed that foldable smartphone shipments are forecast to increase by a CAGR of 53 percent between 2021 and 2024 to exceed 30 million in 2024 worldwide, a new report revealed.
The segment is forecast to grow by a CAGR of 122 per cent between 2019, the year the first foldable products launched, and 2024. Driven by Samsung, foldable smartphone shipments reached 8.9 million in 2021. The foldable segment grew 148 percent year on year despite high price tags, while the overall smartphone market only grew 7 percent.