The market analysis agency counterpoint research has now shared his report alluding to the European smartphone market during the first quarter of 2022. The conclusions denote a pessimistic reality with a sharp drop in the period in question.
More specifically, during the first three months of 2022 the sales volume of smartphones fell 12% compared to the metric recorded in the previous quarter, the fourth quarter of 2021. It is the worst result in Europe since the values recorded in 2013.
The European smartphone market records a historic drop of 12% in the first quarter of 2022
The worst of all? Counterpoint Research warns that the market will get worse before it gets better again. In fact, the 12% drop in sales volume from the previous quarter translates to just 49 million smartphones sold in the first three months of the year. These are unprecedented figures since 2013, when the market was also in recession.
In fact, we found that only one of the top 5 manufacturers in Europe recorded an increase in sales during the period analyzed. The exception is in Reallythe OPPO sub-brand that grew by 67% compared to the previous quarter.
The rest of the manufacturers would register different decreases, from the 8% contraction of the OPPO models, to the expressive 36% fall of Xiaomi. On the other hand, Samsung also posted a 16% decline in sales, while even Apple would drop 6% during this period.
The Top 5 in Europe is dominated by Samsung, Apple and Xiaomi
The entire market fell during the first quarter of 2022, without the order of dominance changing. Thus, we still have Samsung in first place, Apple in second place and Xiaomi in third place. Then we have OPPO in fourth place, with Realme closing the European Top 5.
It should also be noted that Samsung leads the runner-up by a wide margin, with a 35% market share to Apple’s 25%. Shortly after we have Xiaomi with a 14% market share and OPPO with 6%. Realme now has a 4% share and the other manufacturers have 15%.
For Counterpoint Research, the reasons for this drop are mainly related to component shortages, something that still needs a solution as the industry wakes up from the COVID-19 crisis. Also, the rampant inflation being felt in China has already affected the market in the first quarter and of course the war in Ukraine.
The market will worsen with a new crisis already on the horizon before recovering again
Counterpoint Research also notes that the European market was, a year ago, on the mend. But China’s market turmoil affects the global economy, with Russian aggression on Ukrainian soil worsening trade prospects.
Finally, for interested readers, above, you can consult the counterpart report for the Latin American market, focusing on nations such as Brazil, among others. Samsung also dominates here, with Apple in second place and Xiaomi in third.