The world’s two largest smartphone brands Samsung and Apple are set to lower their production with the market reflecting undermining performances. Having already cut down the production of some of their devices, the tech giants are further assessing the situation as the global shipment stats continue to falter.
In fact, the smartphone business has been so frustrating that not just Samsung and Apple but many phone makers are currently doing their best to avoid high de-stocking, claims Taiwan Economic Daily.
Research firms have predicted global phone shipments to reach 1.26 billion in 2022. It’s a year-to-year 6.8 percent decline from 2021. They are attributing the low numbers to weak economic growth, inflation, and the epidemic. However, the shipment is expected to rise to 1.327 billion units in 2023, up 5.2% from 2022.
Also see: Apple ranked the top smartphone brand globally in Q3, 2022
The world’s largest phone brands are Samsung, Apple, OPPO, Xiaomi, Vivo, Transsion, and Honor. Together, they account for over 80 percent of global phone shipments. But they are all suffering this year as global markets struggle to revive.
Find: Apple iPhone Price in Nepal | Latest 2022 Update
Apple is slightly better with doubt about the final figures
Apple though is the only company with a better chance of positive growth. However, the US phone maker also has had to grapple with a market slump. The less consumer interest has forced it to cut down on its iPhone 14 Plus production. But that is not all for the globe-trotting smartphone brand in 2022. The Foxconn riot and other production issues might hurt Apple’s final 2022 sales figure.
Likewise, Samsung has also suffered from a number of issues. Its largest assembly plant in Vietnam has reduced its production capacity. The country’s share of phone supply has gone down to 50%.
Also check out: Samsung Mobile Price in Nepal | Latest 2022 Update with Specs
Analysts believe that smartphone brands are witnessing earlier de-stocking than it is normally expected.
To sum up, 2022 has not been favorable this year. It’s not that just Samsung and Apple are lowering their phone production. Dominant Chinese smartphone brands Xiaomi, OPPO, and Vivo have also seen their sales figures drop.
Are you planning on buying a new phone before 2022 ends? If you are then you can choose one for yourself from our list of best phones under 40000 for upper mid-range lineups and flagship phones in Nepal if you can afford one lakh or above.
For any specific information on any smartphone, do let us know in the comments below.
