Electronics sales have declined significantly due to the ongoing recession in the American economy. In addition, entrepreneur, and former CEO of Amazon, Jeff Bezos, suggested to his fellow Americans not to purchase expensive electronics like TV, fridges, and smartphones. This further refrained people from purchasing electronics and showed an effect on sales of smartphones as well.
A record 46% sale of 5g smartphones helped to maintain the ASP of smartphones for the third quarter. However, the smartphone market saw a 12% YoY decline in the third quarter. The 5g smartphones had a market of $80 billion in the third quarter of 2022, an all-time high of 80% in the global smartphone market. Said senior analyst Harmeet Singh Walia.
The shift from 5g to 4g and over 95% of Apple’s iPhones being 5g enabled contributed to half of 5g smartphone sales in the global market. Samsung, the second largest smartphone OEM (original equipment manufacturer), saw a marginal increase of 2% in the third quarter of this year, marking a 27% rise in sales of its 5g handset.
With ongoing Covid chaos in China, Oppo and Vivo sales saw a YoY decline in q3 of this year. However, despite the chaos, Xiaomi sales grew by 4% YoY.
- Published By Team Genuine Reporter