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Manufacturers
June 23, 2022
A number of factors including geopolitical tensions in Ukraine have caused the slump, says Counterpoint Research
The European smartphone market recorded its lowest first quarter shipments since 2013 as the market declined 12 per cent year on year.
In total 49 million smartphones were sold in the first quarter of 2022, according to Counterpoint Research.
However a challenging backdrop, which includes a cost-of-living crisis, geopolitical tensions and product shortages and Chinese Covid-19 lockdowns, meant that the market slumped.
Counterpoint Research expects the challenges to continue throughout the year.
“Existing issues such as COVID-19 and component shortages have been exacerbated by new economic and geopolitical challenges,” noted Counterpoint Research associate director Jan Stryjak.
“Rising inflation levels across the region are impacting consumer spending, while Samsung and Apple, Russia’s first and third ranked smartphone vendors, halted all shipments into Europe’s largest market in early March 2022.”
He adds that the impact of the Ukraine and Russian war may “develop wider ramifications” for the industry if it leads to a “drop in availability of raw materials, a rise in prices, further inflationary pressure and/or other vendors withdrawing from Russia”.
Vendors
Samsung shipped the most in Europe during Q1 2022, with 35pc market share overall, beating Apple (with 25pc). Both vendors noted declines of 16pc and six per cent YoY.
Xiaomi and Oppo came third and fourth with 14pc and six per cent market share overall, ahead of Realme with four per cent.
Realme was the only vendor in the top five to grow its shipment figures, with the BBK Electronics Group vendor growing sales 67 per cent in the region during Q1 2022.