Smartphone shipments declined below the 300 million mark for the first time in a decade, due to a weakening economy and dipping consumer demand.
Analyst company IDC, said in its quarterly report 285.8 million smartphones were shipped in China during 2022, representing a 13.2% year-on-year decline. In Q4 the market declined 12.6% to 72.9 million units.
The analyst firm said the annual and quarterly figures were almost the same as in 2012 with the slowdown being primarily down to economic slowdown causing low demand, a trend that’s being seen globally.
Vivo remained the most prominent smartphone brand by market share with 18.6% however this was a decline from 21.5% in 2021.
Honor was the largest selling company with a market share of 18.1% from 11.7%, a rise of 34.4%. It was the only manufacturer in the top five to achieve growth due to a low comparison base year and aggressive product portfolio development in 2022.
Oppo was third with a share of 16.8%, a decline of 28.2% from 20.4%. Apple placed next with 16.8 % (4.4% decline), and rounding off the top five was Xiaomi with 13.7% (11.2% decline).
IDC Asia/Pacific client devices senior research manager Will Wong said: “The historically low shipments raise an alarm bell for smartphone vendors to rethink how to build a more sustainable business model and a more targeted marketing strategy.
“On the positive side, the end of the zero-COVID policy provides a tailwind to the market, though a quick rebound is unlikely as consumers spend on areas like leisure and services instead.”
