Telecom

China’s 2022 Smartphone Sales Plunge to Lowest in a Decade

 

China’s smartphone sales fell 13% year-on-year in 2022, the largest plunge for the sector in a decade, market research firm IDC said on Sunday.

The total number of devices shipped was 286 million, down from 329 million in 2022.

That meant total 2022 sales volume was the lowest since 2013, as consumers spent cautiously, IDC said in a report. This was also the first time in a decade that annual sales have dropped below 300 million, it added.

 

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Android handset maker Vivo was the top-selling brand in China over the year, with a market share of 18.6%. Its total shipments fell 25.1% year-on-year, however.

Honor ranked as the second best-selling brand, with shipments growing more than 34%, albeit from a low base.

Apple was China’s third best-selling phone brand in 2022, tied with Oppo. The iPhone-maker’s overall sales fell 4.4% year-on-year, broadly outperforming the market downturn.

Apple was also the country’s top-selling brand in the three-month period ending December. Despite that, year-on-year sales for iPhones were still down. Supply chain issues caused by worker unrest at Apple manufacturer Foxconn’s plant in the city of Zhengzhou compounded worse-than expected demand, researchers wrote.

Strict Covid-19 controls in China, which ramped up in the spring of 2022 across several cities, weighed heavily on its economy. Growth in the world’s second-largest economy slumped to one of its worst levels in nearly half a century last year.

The plunge in smartphone sales in China reflected the sector’s performance globally.

In 2022, global smartphone shipments hit 1.2 billion, the lowest since 2013 and a year-on-year fall of more than 11%, according to IDC.

 

  • Reuters, with additional editing by Vishakha Saxena

 

Also read:

Apple ‘to Raise India Production to 25%’ in Retreat From China

Luxury Brands Bet on China’s Big Spenders’ Post-Covid Return

China’s Reopening Lifts Economic Growth Optimism: WEF Panel

Record Inflows to Emerging Market Funds After China Reopening

 

 

Vishakha Saxena

Vishakha Saxena is the Multimedia and Social Media Editor at Asia Financial. She has worked as a digital journalist since 2013, and is an experienced writer and multimedia producer. As a trader and investor, she is keenly interested in new economy, emerging markets and the intersections of finance and society. You can write to her at vishakha.saxena@asiafinancial.com

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