New Delhi, October 29
The global smartphone market declined by 12 per cent (year-on-year) even as it grew by 2 per cent (on-quarter) to reach 301 million units in Q3, its lowest Q3 level since 2014.
According to Counterpoint Research, the smartphone market remained under pressure given deteriorating economic conditions.
Ongoing international political tensions resulting in economic uncertainty hit the smartphone market, even though it reversed its slide below the 300-million-mark last quarter thanks to a slight quarterly recovery in Apple and Samsung shipments, according to the report.
“Russia’s escalating war in Ukraine, ongoing China-US political distrust and tensions, growing inflationary pressures across regions, a growing fear of recession, and weakening national currencies all caused a further dent in consumer sentiment, hitting already weakened demand,” explained senior analyst Harmeet Singh Walia.
