In a recent report from the IDC Smartphone Tracker, global smartphone shipments for Q4 2022 have seen a significant decline, with the market dropping by 18.3% to 300.3 million shipments.
This shows the largest quarterly decline recorded, with all 5 major brands facing double-digit declines on a yearly basis compared to Q4 2021.
The Q4 drop in shipments has also contributed to a yearly reduction of 11.3% compared to 2021 data, with 1.21 billion smartphones sold in 2022, compared to 1.36 billion in 2021.
|Company||Q4 2022 shipments (million)||Q4 2022 market share||Q4 2021 shipments (million)||Q4 2021 market share||Annual growth/decline|
As per the Q4 2022 data, Apple once again took the lead in the market, with 72.3 million shipments and a 24.1% market share. Samsung followed closely behind, with 58.2 million shipped phones and a 19.4% market share.
Xiaomi came in third, with 33.2 million shipments and 11% of the market share, however, the company experienced the biggest fall in shipments compared to its values from Q4 2021 at -26.3%. Also, with 25.3 million and 22.9 million shipments, respectively, Oppo and Vivo, made it to the top 5.
When looking at the combined shipment figures for 2022, Samsung emerged as the leader, with 260.9 million units and a 21.6% market share. Apple was second, with 226.4 million and 18.8% of the market, while Xiaomi secured 153.1 million shipments and a 12.7% cut of the entire market. Oppo and Vivo, with 103.3 million and 99 million shipments, respectively, saw the largest yearly declines with -22.7% and -22.8% respectively.
|Company||2022 shipments (million)||2022 market share||2021 shipments (million)||2021 market share||Annual growth/decline|
According to IDC experts, falling shipping values can be linked to declining consumer spending and rising inflation levels, resulting in a drop in demand for new products.
Additionally, users are keeping their devices for longer, with some users keeping them for up to 40 months (3.3 years).
IDC suggests that companies will need to reevaluate their device portfolios in the future, while retail outlets will be required to better manage their present inventory.