Global Smartphone Production Fell by 11 Percent in Q3 2022: Trendforce
Global smartphone production has witnessed a decline in the Q3 2022. The industry has reportedly produced 289 million units from July to September which is a 0.9 percent quarterly decline from 307 million units in Q2. On a yearly basis, it is around 11 percent decline. While Samsung has maintained its status of top manufacturer, Apple is the second one to have high production units. Xiaomi and Oppo are the third and fourth companies with highest production units.
According to a report from market reseach firm Trendforce, the smartphone market witnessed extremely weak demand in the third quarter. Samsung reportedly recorded the production of nearly 64.2 million units, a 3.9 percent quarter-on-quarter increase.
However, the Korean smartphone manufacturer is expected to see a Q-o-Q decline in the current quarter as it will scale back production in order to sell devices that are already manufactured.
Apart from the quarterly increment, Samsung has also been leading the foldable smartphones market this year. The global market of foldable smartphones is estimated to reach 1.1 percent this year and Samsung will reportedly hold a 90 percent of market share. In 2023, foldable phones are likely to share 1.5 percent in the global smartphone market, and Samsung is speculated to hold almost 80 percent share in this segment, according to the report.
After Samsung, Apple is in second place in the list, with a 17.6 percent share. The Cupertino based tech giant reportedly produced nearly 50.8 million units in Q3 2022.
Other phone companies that made it to the top 5 in the list of highest smartphone production are Xiaomi, Oppo, and Vivo in third, fourth and fifth position respectively.
Xiaomi reportedly had a 13.1 percent share of global smartphone production with its sub-brands Redmi, Poco, and Black Shark.
Meanwhile, Oppo and OnePlus held a 11.6 percent share. Vivo has an 8.5 percent market share in smartphone production, according to the report.