Worldwide smartphone shipments dropped 9 percent year-on-year to 297.8 million units in Q3 2022 due to weak demand, according to a new report by analytics firm Canalys.
Samsung retained the first position with 22 percent market share and 64.1 million units shipped during the quarter, 8 percent lower compared to the previous year, the report said.
In second place, Apple was the only company that grew 8 percent YoY and shipped a total of 53 million units. The Cupertino tech giant claimed 18 percent market share.
With 14 percent market share, Xiaomi stood at the third spot. The Chinese smartphone maker shipped 40.5 million units, down 8 percent from the previous year.
Oppo's shipments declined 22 percent YoY to 28.5 million units, giving it 10 percent market share. Vivo's market share stood at 9 percent as the company shipped 27.4 million units, down 20 percent from the previous year.
Other smartphone manufacturers combined held 27 percent of the market share and shipped 84.3 million units, which is a decline of 6% year-on-year.
“Moving into Q4, ongoing global disruptions are hampering the performance of entire ecosystem portfolios for vendors,” said Canalys Analyst Toby Zhu.
“The upstream supply chain is entering a long winter sooner than expected where OEMs’ order targets are slashed heavily. Also, slow inventory turnover and poor economic figures have affected the channel's confidence, falling back to major brands with iconic devices to generate traffic for the most important revenue quarter. Vendors are entering Q4 with cautious strategies to handle the persisting difficulties. Managing the gloomiest Q4 outlook in over a decade will show which vendors are well-positioned for the long-term,” Zhu added.
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