Trendforce has released its latest research into the global smartphone market, revealing a decline in production in the third quarter of 2022. The industry saw 289 million units produced between July and September, a quarterly decline of 0.9% and 11% year over year.
The “extremely weak” demand was due to companies prioritizing inventory over new devices while maintaining low production due to “strong global economic headwinds.”
Samsung maintained its spot as the top manufacturer with 64.2 million units in device production, a slight increase of 3.9% from the previous quarter. The Korean manufacturer is cutting production to push its already manufactured devices and will likely signal a drop in production after the next three months.
Apple recorded 50.8 million, a market share of 17.6%. According to TrendForce, this is the strongest production period for Cupertino as the company is ramping up production to push new iPhones just in time for the holiday season. Expectations for Q4 are that every fourth new smartphone that leaves the factory will be an iPhone.
The rest of the Top 5 is occupied by Xiaomi (including sub-brands Redmi, Poco and Black Shark) in third place, Oppo (including Realme and OnePlus) in fourth and vivo (plus iQOO) in fifth. Trendforce pointed out that Chinese companies are leaning towards a future with less US technologies, as vivo has its own ISP, Xiaomi has developed an in-house charging chip, and Oppo has the MariSilicon X NPU.
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