Global smartphone shipments dropped for a fifth consecutive quarter in Q1, analyst house Canalys estimated, as price cuts and heavy vendor promotion failed to revive slow consumer demand in the face of economic challenges.
In its provisional Q1 figures, Canalys cited a 12 per cent year-on-year decline in shipments without providing exact unit numbers.
Samsung led the market with a 22 per cent share, down slightly, followed by Apple on 21 per cent.
Xiaomi and Oppo held 11 per cent and 10 per cent of the market, respectively, while Vivo rounded-out the top five with 8 per cent.
“Local macroeconomic conditions continued to hinder vendors’ investments and operations in several markets,” Canalys analyst Sanyam Chaurasia stated. “Despite price cuts and heavy promotions from vendors, consumer demand remained sluggish, particularly in the low-end segment due to high inflation affecting consumer confidence and spending.”
A continued decline in shipments had been widely expected by analysts moving into 2023, however Canalys analyst Toby Zhu highlighted there had been “some signs of moderation” in Q1, pointing to improved demand for some products and in specific price bands.
He also highlighted some vendors had become more active in production planning and component orders during the quarter.