China's 2022 smartphone shipments the lowest in 10 years - research firm
SHANGHAI, Jan 29 (Reuters) -China's smartphone sales fell 13% year-on-year in 2022, the largest plunge for the sector in a decade as consumers spent cautiously, market research firm IDC said on Sunday.
The total number of devices shipped was 286 million, down from 329 million in 2022.
That meant total 2022 sales volume was the lowest since 2013 and the first time since then that annual sales have dropped below 300 million, IDC said in a report.
Android handset maker Vivo was the top-selling brand over the year, with a market share of 18.6%. Its total shipments fell 25.1% year-on-year, however.
Honor ranked as the second best-selling brand, with shipments growing more than 34%, albeit from a low base.
Apple Inc AAPL.O was the third best-selling phone brand in 2022, tied with Oppo.
Apple's overall sales fell 4.4% year-on-year, broadly outperforming the market downturn.
In Q4, despite being the top-selling brand in the three-month period, year-on-year sales for iPhones were still down, as supply chain issues caused by worker unrest at manufacturer Foxconn's plant in the city of Zhengzhou compounded worse-than expected demand, researchers wrote.
Strict COVID-19 controls in China, which ramped up in the spring of 2022 across several cities, weighed heavily on its economy which slumped to one of its worst levels in nearly half a century last year.
The plunge in smartphone sales in China reflected the sector's performance globally. In 2022, global smartphone shipments hit 1.2 billion, the lowest since 2013 and a year-on-year fall of more than 11%, according to IDC.
Reporting by Josh Horwitz; Editing by Robert Birsel
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
