World Smartphone Market Faces Decline in 2022 Attributable to COVID, Inflation: TrendForce

Smartphone market in 2022 is predicted to say no as a result of COVID and inflation, in accordance with a latest report by market analysis agency TrendForce. The worldwide smartphone manufacturing quantity in Q1 2022 stood at 310 million items — 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 items. China’s smartphone market nonetheless ranks first on the earth. It’s price noting that in the identical time interval in 2021, when the pandemic in India and Southeast Asia induced drop in complete manufacturing, the cell phone manufacturing noticed a slight development of seven p.c. The overall manufacturing forecast for all the 12 months stands at 1.3 billion units for the time being, which is lower than 2021.

The demand for smartphones got here down as a result of pandemic prevention measures together with inflation, TrendForce stories. The battle between Russia and Ukraine has contributed to the rising international inflation. Thus, the numbers have come down within the first half of the 12 months 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 can be as a result of inflation disaster. The entire manufacturing forecast for the entire 12 months have come right down to 1.33 billion items.

China smartphone market nonetheless ranks first by way of total gross sales market share, the TrendForce stories claims. Because of the pandemic, the market share has dropped to 21.1 p.c from 24.2 p.c this 12 months. The overall cargo forecast has additionally fallen from 325 million items a 12 months in the past to 283 million items, 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 induced drop in complete manufacturing, the cell phone manufacturing noticed a slight development of seven p.c.

Contemplating the nationwide cargo share rating forecast of the present 12 months, the highest three positions can be held by China, India, and the USA with a share of 21.1 p.c, 13.1 p.c, and 11 p.c respectively, TrendForce says.


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