Smartphone Deliveries Down Due to Economic Uncertainty
This year, the smartphone market has experienced a significant slowdown, as demand and supply both fell. The Chinese lockdown triggered by COVID-19 cases has further contributed to the weakening of the market, as has the rising threat of inflation. But Apple has been less affected than its rivals, and the company’s tight control over supply and distribution has protected it from the worst of the economic uncertainty. In addition, the Chinese government has already begun a massive campaign of tighter regulation of different industry sectors including technology and communications.
While smartphone shipments are declining across the world, the amount of time people spend on their smartphones is still rising. As a result, manufacturers are expanding their product lines in response to the current economic uncertainty. According to an industry report, smartphone shipments will drop by 11 percent in the first quarter of 2022, a decline that has been attributed to high market penetration, rising prices, and a lack of demand. Get ahead of the competition and secure your new device at a Vodafone Store Near Me such as https://kingcommunications.ie/vodafone-stores-near-me/
In addition to falling smartphone sales, the economic uncertainty is also impacting smartphone prices worldwide. While the overall portfolio of smartphones has increased in recent years, the trend has continued to shift towards cheaper devices. The price pressure is evident worldwide, but especially in developing regions, where smartphones priced under $400 captured as much as 85% of the market. This trend will likely continue through the rest of this year, but will most likely be short-lived.