By Dominic Chopping
STOCKHOLM–The European smartphone market declined by 12% year-on-year within the first quarter of 2022, as persevering with element shortages, Covid-19 lockdowns in China, deteriorating financial circumstances and the onset of the Russia-Ukraine battle all weighed, in response to a report from Counterpoint Analysis.
The analysis agency mentioned that 49 million smartphones have been shipped in Europe within the quarter, the bottom first-quarter complete since 2013.
The area’s greatest vendor, Samsung Electronics Co., noticed shipments fall 16% on the 12 months whereas Apple Inc.’s fell 6%. Realme was solely the top-five vendor to register annual cargo development within the quarter, with an increase of 67%, it mentioned.
“Current points resembling Covid-19 and element shortages have been exacerbated by new financial and geopolitical challenges,” mentioned Jan Stryjak, Counterpoint Analysis Affiliate Director.
“Rising inflation ranges throughout the area are impacting client spending, whereas Samsung and Apple, Russia’s first and third ranked smartphone distributors, halted all shipments into Europe’s largest market in early March 2022,” he mentioned.
Wanting forward, the general state of affairs is predicted to worsen earlier than it will get higher, with many international locations in Europe near recession and the Russia-Ukraine battle unlikely to be resolved any time quickly, Counterpoint Analysis mentioned.
Annual development in smartphone shipments is due to this fact anticipated to proceed to say no for the subsequent few quarters, particularly within the second quarter, as the price of residing throughout the area hits report highs and the total influence of Samsung and Apple’s withdrawal from Russia is realized, it added.
Write to Dominic Chopping at [email protected]
(END) Dow Jones Newswires
June 15, 2022 06:36 ET (10:36 GMT)
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