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Global Smartphone Market Had Worst Drop Since Virus Outbreak

  • Omicron, Ukraine invasion and China lockdowns dampened demand
  • Chinese firms suffered from domestic slowdown and parts crunch

Smartphone shipments fell 11% in the first quarter, the worst drop since the coronavirus outbreak, after inflation fears, Russia’s invasion of Ukraine and the Omicron variant derailed an unsteady recovery for the sector.

Samsung Electronics Co. reclaimed the lead from Apple Inc. with a 24% share, according to Canalys market data, with Chinese vendors Xiaomi Corp., Oppo and Vivo filling out the top five in roughly the same proportion as they did a year ago. The major slowdown was due in part to China’s pursuit of a Covid Zero policy that’s impacted both demand and supply in the world’s biggest smartphone market, with domestic manufacturers struggling to secure components for their entry-level devices, the researchers found.