Global smartphone shipments reportedly declined by 18.3 percent, year-over-year (YoY) in Q4 2022. Falling consumer demand, high inventory, and market uncertainties are said to be the main reasons for the drop in shipments, according to a survey conducted by International Data Corporation’s (IDC) Worldwide Quarterly Mobile Phone Tracker. While Apple topped the global smartphone shipments in Q4 with a 24.1 percent market share, Samsung and Xiaomi were in second and third spots with 19.4 percent and 11 percent of market share respectively.

According to a report published by IDC’s Worldwide Quarterly Mobile Phone Tracker, global smartphone shipments have fallen by 18.3 percent YoY to 300.3 million units in the fourth quarter of 2022 (4Q22). The quarterly drop between October and December 2022 is said to be the largest-ever decline in a single quarter. It has also resulted in an overall decline of 11.3 percent for the year 2022. The research director at the firm has cited the fallen consumer demand and the high inventory as the two main reasons for this decline.

The report has also given details of the smartphone manufacturing ecosystem with Apple leading smartphone shipments with 24.1 percent of the market share. Samsung and Chinese smartphone manufacturer Xiaomi have 19.4 percent and 11 percent of the market share, as per the report. Oppo and Vivo is said to hold the fourth and fifth spots in terms of smartphone shipments.

The report further says that smartphone shipments for 2022 closed at 1.21 billion units, which is the lowest annual shipment total since 2013. It adds that these companies need to push for a 2.8 percent recovery this year, while cautioning about downward risks to the prediction. “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,” the report states.

Last month, a survey published) by market research firm Counterpoint Research stated that Made in India smartphone shipments have fallen by 8 percent year-on-year (YoY) between July and September 2022. According to the report, Oppo has the highest market share of 24 percent in Made in India smartphone shipments in Q3, followed by Samsung and Vivo.