Canalys: Global smartphone sales declined 11% during Q2‎

A report on Thursday showed that global smartphone shipments fell 11% year-on-year in the second quarter, as the market continued to grapple with a headwind of slowing consumer demand amid macroeconomic uncertainty.

According to the Korean Yonhap Agency, the market research company, Canalys, said that the ongoing stagnation in the market affected specialized companies, such as Samsung Electronics and Apple, which were forced to reduce sales to distributors or shipments to retailers.

Samsung topped the market with a share of 21%, followed by Apple with 17%, Xiaomi with 13%, and OPPO with 10%.

The report said that while growth declined on an annual basis, conditions began to improve, with indications of growth in investments and declining inventories.

“The smartphone market is sending early signs of recovery after six consecutive quarters of decline since 2022,” said Lu Xuanqiu, an analyst at Canalys.

“Smartphone inventory has begun to clear up, as smartphone vendors have prioritized reducing inventory of older models to make room for new launches.”

Samsung is preparing to launch its new niche foldable phones next week, as it looks to increase smartphone sales in the second half and solidify its leading position in the new premium segment.

Samsung will hold an event to unveil its modern devices in Seoul, which is the first time that the biannual event has been held in Korea since its launch in 2009.