Counterpoint: The third quarter was the worst for the global smartphone market in 8 years. And only Apple is doing well

Counterpoint analysts summed up the results of the third quarter of 2022 in the global smartphone market. And came to a disappointing conclusion.

Here's What It Costs

So, smartphone sales reached 301 million units this quarter. While the figure was up 2% from last quarter, the market was down 12% year-over-year. What's more, analysts say it was the worst third quarter in eight years, since 2014.

Samsung's shipments were down 8% year-on-year, Xiaomi's were down 9%, and OPPO and vivo were down 23%. Only Apple is showing growth, which was able to increase sales by 2% thanks to the early launch of new models.

"As the full force of the latest iPhone launch is felt in the fourth quarter, we expect further quarterly improvement in the next quarter, although central bank attempts to control inflation will further depress consumer demand. Channel inventories are still higher, and OEMs will also focus on getting rid of excess inventory in the fourth quarter. Consequently, shipments are unlikely to reach last year's levels, let alone the pre-pandemic fourth-quarter level of more than 400 million units. Looking ahead to 2023, we expect sluggish demand with increased replacement rates, especially in the first half of the year," Counterpoint deputy director Jan Stryjak believes.

Source: Counterpoint
Photo: MacRumors