IDC: the 4th quarter of 2022 was the worst ever for smartphone sales
IDC published data on global smartphone sales in the fourth quarter of 2022 year, and it proved disastrous, reports ArsTechnica. Supply fell 18.3% year-on-year, the biggest drop in a single quarter and followed by an 11.3% drop for the full year. Total shipments for the year were 1.21 billion smartphones, the lowest annual figure since 2013, according to IDC.
Apple, Samsung, Xiaomi, Oppo and Vivo were among the top five by the end of the 4th quarter of 2022 – Apple suffered the least, but not by much. In the 4th quarter of 2022, Apple’s sales fell by 14.9% year-on-year, Samsung – by 15.6%, and Xiaomi’s biggest decline – by 26.5%. At the end of the year, Samsung is still in first place with a market share of 21.6%, Apple is in second place with 18.8%, and Xiaomi is in third place with 12.7%.
IDC also notes that consumers aren’t switching smartphones for longer than ever. The time it takes for consumers to buy a new smartphone is now “climb[ing] past 40 months in most major markets,” the company said.
The report concludes, “2023 is set up to be a year of caution as vendors will rethink their portfolio of devices while channels will think twice before taking on excess inventory. However, on a positive note, consumers may find even more generous trade-in offers and promotions continuing well into 2023 as the market will think of new methods to drive upgrades and sell more devices, specifically high-end models.”