Global smartphone revenue fall by 9% to $409 billion in 2022: Report

The global smartphone revenue declined by 9 per cent, amounting to $409 billion in 2022, the lowest since 2017, a new report has said.

According to Counterpoint Research, the global smartphone market declined by 18 per cent (year-over-year) to reach 304 million units in Q4 2022.

“The smartphone market remained under pressure in the fourth quarter of 2022 as the cost-of-living crisis, shortage in the labour market and a decline in consumers’ purchasing power resulted in double-digit declines in the shipments of each of the top five smartphone players,” said Senior Analyst Harmeet Singh Walia.