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Customers inside an Apple store in New York, U.S., September 24, 2021. /CFP
Global smartphone sales in the third quarter dropped 9 percent from the same period a year earlier, hitting a low not seen since 2014, data from the research firm Canalys showed on Wednesday.
The market tracker attributed the sales slump to a darkening economic outlook.
"The gloomy economic outlook has led consumers to delay purchasing electronic hardware and prioritize other essential spending," it said in a release.
Worldwide smartphone sales in each quarter of 2022 have fallen short compared to the same periods last year, Canalys added.
There is not much sign of recovery in market demand through the fourth quarter of this year and the first half of 2023, said Sanyam Chaurasia, an analyst at Canalys.
Samsung's share in the global smartphone market stood at 22 percent after the company pushed hard on sales promotions, followed by Apple's 18 percent share.
Chinese smartphone makers Xiaomi and Vivo take up 14 percent and 10 percent of the global market share, ranking third and fourth.
"The pricing strategy of new products is cautiously crafted, even for Apple, to avoid significant pushback from consumers who now tend to be very sensitive to any price hike," said Canalys analyst Amber Liu.
"For most vendors, the priority is to reduce the risk of inventory building up given deteriorating demand," Liu added.
(With input from AFP)
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Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466