Canalys: Global smartphone market contracted for fifth quarter in a row

According to analyst firm Canalys, the global smartphone market has shrunk for the fifth consecutive quarter. During the first quarter of 2023, 12 percent fewer smartphones were sold compared to Q1 2022.

The bureau believes that global inflation has caused demand to fall. This would mean much less demand for devices, especially in the cheaper segment. Due to the contraction of the market, manufacturers would be more careful when purchasing parts. Because smartphone stocks will be able to be sold sufficiently in the coming quarters, the demand for new parts will increase according to Canalys rise again soon.

Samsung is the market leader in the global smartphone market, according to the agency. The South Korean company achieved a market share of 22 percent last quarter. The American Apple is in second place with a market share of 21 percent, followed by the Chinese Xiaomi with 11 percent and Oppo with a 10 percent market share. Vivo closes the top 5 with 8 percent market share during the first quarter of 2023.

Figures Canalys global smartphone market (April 2023) – Source: Canalys