Global smartphone market faces setback, witnessing an 11% decrease in Q2

Despite an 11% slump in Q2, the global smartphone market shows promising indications of bouncing back as it adapts to changing consumer preferences and embraces emerging technologies, as revealed by Canalys' latest analysis.

According to the latest report by Canalys, the global smartphone market experienced an 11% decline in the second quarter (Q2), reflecting the challenging landscape faced by the industry. However, amidst the decline, there are encouraging signs indicating a gradual recovery and potential growth in the near future. The market's response to evolving consumer demands and technological advancements will play a crucial role in shaping the industry's trajectory.

Global smartphone market faces setback, witnessing an 11% decrease in Q2

Global smartphone shipments experienced an 11% year-on-year decline, showing a slight improvement compared to the 12% drop in Q1. However, there are positive developments in the market as vendors work on clearing up inventory by pushing out older models to make room for new releases. Additionally, they are taking measures to secure a stable supply of critical components to safeguard against potential price surges.

The Top 5 smartphone manufacturers maintained their positions from the previous quarter, although Apple witnessed a decline from 21% to 17% market share in Q2, while Samsung remained relatively steady with a 1% decrease from 22% to 21%.

Xiaomi saw a 2% increase in market share driven by strong demand for their new Redmi models, while vivo's affordable Y-series gained popularity. Oppo and OnePlus continued to perform well in their respective core markets within the Asia-Pacific region. It is worth noting that Canalys consolidates the numbers for Oppo and OnePlus, while tracking vivo as a separate entity.

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