Canalys: global smartphone market shrank for the 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 agency believes global inflation has reduced demand. This would result in much less demand for devices, especially in the cheaper segment. Due to the shrinking market, manufacturers are said to 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 will rise again soon.

According to the agency, Samsung is the market leader in the global smartphone market. 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.

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