Smartphone market in 2022 is anticipated to say no as a result of COVID and inflation, based on a current report by market analysis agency TrendForce. The worldwide smartphone manufacturing quantity in Q1 2022 stood at 310 million models — a QoQ lower of 12.8 p.c. The return of the pandemic in China in 2022 additionally contributed to the drop within the international cell phone manufacturing to 309 million models. China’s smartphone market nonetheless ranks first on the earth. It’s value noting that in the identical time interval in 2021, when the pandemic in India and Southeast Asia triggered drop in whole manufacturing, the cell phone manufacturing noticed a slight progress of seven p.c. The full manufacturing forecast for all the yr stands at 1.3 billion units in the mean time, which is lower than 2021.
The demand for smartphones got here down as a result of pandemic prevention measures together with inflation, TrendForce. The struggle between Russia and Ukraine has contributed to the rising international inflation. Thus, the numbers have come down within the first half of the yr majorly as a result of impression of China’s lockdown on the financial system, the market analysis agency added. The drop within the second half shall be as a result of inflation disaster. The entire manufacturing forecast for the entire yr have come right down to 1.33 billion models.
China smartphone market nonetheless ranks first by way of general gross sales market share, the TrendForce experiences claims. As a result of pandemic, the market share has dropped to 21.1 p.c from 24.2 p.c this yr. The full cargo forecast has additionally fallen from 325 million models a yr in the past to 283 million models, indicating an annual decline of roughly 12.9 p.c. As talked about earlier, throughout the identical time interval in 2021, when the pandemic in India and Southeast Asia triggered drop in whole manufacturing, the cell phone manufacturing noticed a slight progress of seven p.c.
Contemplating the nationwide cargo share rating forecast of the present yr, the highest three positions shall be held by China, India, and the US with a share of 21.1 p.c, 13.1 p.c, and 11 p.c respectively, TrendForce says.