[eMarketer] China’s idling economy to slow down global smartphone market

The economic downturn in China will be a factor in dragging down worldwide smartphone shipments in 2022. IDC’s latest forecast is pointing to a 3.5% global decline, per Bloomberg.

The world’s biggest smartphone market stumbles: When China falters, global markets feel the squeeze. China’s smartphone market is expected to shrink by 38 million units this year, down 11.5% YoY.

This represents four-fifths of the global shipment reduction volume behind Central and Eastern Europe, a market whose economy is clouded by ongoing war.

China isn’t just the world’s largest market for smartphones—it is the key producer for various brands. The country produced more than 70% of the smartphones shipped to the US, per Canalys, and builds devices for brands like Vivo, Oppo, Huawei, Xiaomi, and others.

According to eMarketer, the toll of inflation, the chip shortage, as well as increasing transport and storage costs due to oil price hikes will inevitably raise smartphone prices as a whole.

Read the full eMarketer article here

www.emarketer.com