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China to Drag Global Smartphone Market Down This Year, IDC Says

  • Market trackers expect contraction, reversing growth forecast
  • Outside of Eastern Europe, China to have biggest slump in 2022

China’s cooling economy is going to be the biggest drag on worldwide smartphone shipments this year, according to the latest IDC forecast, which points to a 3.5% global decline in 2022.

The world’s biggest smartphone market is expected to shrink by 38 million units this year, down 11.5% on 2021 and accounting for about four-fifths of the global reduction in shipment volume. Only the war-stricken Central and Eastern Europe region is projected to shrink faster, as the compounding effects of Covid-19 lockdowns, geopolitical tensions and surging inflation cool consumer sentiment.