Smartphone market expected to decline further in 2022, here’s why

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In a recent research report, market analyst Dr. Trendforce The global smartphone market is expected to decline over the years. According to the report, a total of 310 million units of smartphones were produced worldwide in the first quarter of 2022, down 12.1 percent from the previous quarter. The report cites severe COVID lockdown in China as one of the main reasons for the decline.
China’s cowardly situation is not the only reason the market is battling rising inflation, the report said. At the same time, the ongoing Russia-Ukraine war is playing a role in reducing the number. Meanwhile, the drop in the first quarter was mainly due to the impact of the lockdown in China; The second quarter is expected to suffer from rising global inflation. The firm is revising its expectations for 2022 to 1.333 billion units, and it says there is still room for less revision in the future.
Due to the epidemic situation, China’s market share has dropped to 21.1 percent from 24.2 percent last year. In addition, shipment forecasts have been revised to 238 million units from 325 million units last year, down 12.9 percent.
Despite the decline, China is expected to remain the largest market in the smartphone industry this year with a market share of 21.1 percent. India and the United States, meanwhile, are expected to hold 13.1 percent and 11 percent of shipments, respectively, this year.

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