According to International Data Corporation (IDC), smartphone sales in 2022 are expected to decline by 3.5% compared to 2021, a forecast that comes after three consecutive quarters of decline. Same observation at Counterpoint Research with a slightly different figure: 3% decrease.
Smartphone market 2022 down due to confinements in China
Probable causes of this decline: inflation, sluggish demand, shortages, political tensions, but above all the recent strict confinements in China to fight against the resumption of the Covid-19 pandemic. The latter in particular have a negative effect on the global supply chain. However, despite a general decline in sales, the proportion of 5G models continues to climb. These are expected to grow by 25.5% over the previous year, and will represent 53% of total smartphone distribution.
However, IDC remains positive for the future and believes that the market will normalize after the pandemic, starting in 2023 with an estimated average annual growth of 1.9% until 2026.
