Due to weak demand following the economic slump and inflation reaching record highs in many countries, the global smartphone market isn’t seeing cheerful results. In the middle of this, a market research analysis from TrendForce claims that Apple will overtake South Korean industry titan Samsung in terms of market share in Q4 2022.
In Q3 2022, 289 million smartphones were sold worldwide, according to TrendForce. This is down 11% from the same quarter last year and down 0.9% from the preceding quarter. Apple is anticipated to have rapid growth, with its market share rising from 17.6% in Q3 2022 to 24.6% in the following quarter. In Q4 2022, this will aid Apple in overtaking Samsung and taking the top spot in the worldwide smartphone market.
Samsung only managed a 3.9% rise in shipments from the previous quarter, with a total of 64.2 million units shipped. According to BusinessKorea, Samsung’s shipments will continue to decline in the fourth quarter, which will have an impact on its position in the global smartphone market and prolonged inventory pressure, poor demand, and a scarcity of semiconductors.
Apple, on the other hand, shipped 50.8 million units in the third quarter of 2022 and is exhibiting a strong growth trend. The market share is anticipated to expand in the fourth quarter as a result of the rising demand for the iPhone 14 series. All three of the third through fifth-placed Chinese OEMs, Xiaomi, OPPO, and Vivo, are anticipated to experience a decline in market share in Q4 2022. The future will present considerable challenges for Chinese smartphone manufacturers, according to TrendForce. All of this is a result of India’s poor economic growth and China’s declining local market demand for smartphones.
