China's smartphone sales fall to a decade-low
Smartphone market has been under some troubles with chip shortages and shipment problems. Here are all the details.
The smartphone industry is facing different problems. The problems in the global market affected especially the Chinese market badly. The smartphone market is experiencing ever-increasing levels of competition. The companies are competing with each other with a new innovation every day. The result of this favorable circumstance is the development of devices that are both more powerful and less expensive.
China's smartphone sales fall to a decade-low
These innovations and problems combined together have affected Chinese market badly while Apple benefited from it. According to Counterpoint Research's Market Pulse Service, China's smartphone sales in 2022 fell by 14% year-over-year, bringing them to their lowest level in a decade. In the country, YoY sales have decreased for the fifth year in a row. The COVID-19 pandemic's impact and macroeconomic obstacles were cited as the primary causes of the decline. China's smartphone sales decreased by 15% year-over-year in Q4 2022. With sales declining by 3% year-over-year, Apple was one of the few brands that performed better than the market. In addition, the business achieved its highest-ever quarterly market share of 23.7% in Q4 2022, making it the #2 brand in China for the first time. Other significant Android OEMs, including OPPO, vivo, and Xiaomi, experienced significant YoY declines of 27%, 23%, and 19%, respectively.
