Overview:

We expect the 2022 smartphone market to decline 3% to 1,357 million units from last year's. On the macroeconomic front, expectations for recovery are now sharply falling and more concerns are spreading centered on China's prolonged recession and the Ukraine crisis. By such pushes that make the world economy deeper into a slowdown, this year's smartphone market is expected to contract unavoidably.

Among the factors likely to influence the market in 2022, we consider the following to be the most critical: 

• The continued impact on smartphone OEMs due to the shortage of some components.
• China's economic slowdown resulting from more transmissible COVID-19 variants and "zero-COVID" policies.
• Uncertainty caused by the Ukraine-Russia war.  
• Global financial pressures, including inflation and possible recession.

Published Date: May 2022