The third quarter of 2022 was likely a dark period for the smartphone market, which saw a significant drop in device sales compared to previous years.
As usual, the research firm Canalys has just shared an account of the situation of the smartphone market in the third quarter of 2022. The report indicates a drop in phone sales of 9% compared to the same period last year. The market is therefore in steep decline, since it is the worst quarterly result since the third quarter of 2014.
This worrying phenomenon for smartphone manufacturers could be explained by a combination of the lower consumer spending and economic uncertainty following the global geopolitical situation, but also the high inflation recorded by all countries.
Samsung is still in the lead, saved by its most affordable smartphones
In the third quarter of 2022, Samsung retained its leading position with a 22% market share thanks to big promotions on its phones that have reduced the accumulated inventory. Remember that 60% of Samsung smartphones sold cost less than 200 euros. The Korean manufacturer has therefore relied heavily on its affordable smartphones to remain the market leader.
Apple comes second with an 18% market share and is the only top 5 provider to experience positive annual growth. This feat is due in particular to the cardboard of the iPhone 14 Pro, which has been a resounding success since its release. However, not all models seem to have won over consumers, as Apple was forced to cut production of the iPhone 14, and the 14 Plus model quickly became the least popular version.
Xiaomi comes third with a 14% market share, followed by Oppo with 10% and Vivo with 9% respectively. Looking ahead, Canalys analysts predict few signs of improving smartphone demand in the fourth quarter of 2022 and the first half of 2023. The new generation of devices that will arrive as soon as the end of the year after the release of the Snapdragon 8 Gen 2 chip will then have to rise to the occasion to convince consumers to change smartphones.