Global Smartphone Shipments Fell 9% In The Q2 Of 2022
According to a report by Canalys, a global technology market analysis company, global smartphone shipments declined by 9% in the second quarter of 2022. The report stated that smartphone manufacturers suffered a drop in sales in the second quarter as a result of the increase in inflation.
It is noteworthy that in the first quarter of this year, global smartphone shipments fell by 11 percent. With consecutive declines in the second quarter along with rising inflation, there may be a decline in smartphone shipments throughout the year.
Global Smartphone Shipments Fell 9%
In the report, Canalys research analyst Runar Porovde said vendors were forced to revise their tactics in the second quarter as the smartphone market outlook became more cautious. Economic headwinds, sluggish demand, and a backlog of inventory have caused sellers to quickly reassess their portfolio strategies for the rest of 2022. The hyper mid-range is the exposed part for sellers to focus on adjusting new releases as budget-conscious consumers switch their devices. Buy towards the lower end.
Toby Chu, another research analyst at Canalys, also added in the report that “Low demand is causing significant concern throughout the smartphone supply chain. While component supplies and cost pressures are declining, there are still some concerns within logistics and production, with import laws and procedures in place Tougher tariffs in some emerging markets delay shipments. In the short term, sellers will look to accelerate sales with promotions and offers before new launches during the holiday season to relieve liquidity pressure from the channel.
But unlike pent-up demand last year, disposable income for consumers has been hurt. Due to rising inflation this year, deep collaboration with channels to monitor inventory and supply status will be vital for suppliers to identify short-term opportunities while maintaining healthy long-term channel partnerships.”
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