Global smartphone market sees biggest decline in a decade owing to poor macroeconomic conditions

The global smartphone market witnessed its biggest shrink in this decade, declining 17% year on year in the final quarter of 2022 owing to a “difficult macroeconomic environment.” The analysis by Canalys also reveals that full-year shipments meanwhile fell to below 1.2 billion, registering a decline of 11%.

Apple reclaimed the top spot in the fourth quarter, achieving its highest quarterly share ever at 25% even in the face of shrinking demand and manufacturing issues in Zhengzhou.

Samsung finished second with a 20% share but was in the top spot for the longest, thereby winning the title of the largest vendor for the full year.