Samsung Claims Top Spot in Smartphone Market, Analyst Says – CNET [CNET]

But there was an overall decline in demand in the third quarter this year.

Samsung led the pack in global smartphone shipments for Q3, grabbing 22% of market share, analyst firm Canalys said on Tuesday. While the company led in overall sales, Apple grew its market position to 18%, a 3% increase from the third quarter in 2021. 

The current economic environment has put a damper on consumer spending and according to Canalys, it’s contributed to the third decline in the smartphone market in 2022 and a 9% drop, year-over-year. Rather than purchase a new phone, many shoppers are shifting spending priorities. As a result, companies like Samsung and Apple have strategized how to handle their supply chains and inventory. That includes offering discounts or in Apple’s case, even reducing production on certain phone models. 

“For most vendors, the priority is to reduce the risk of inventory building up given deteriorating demand,” said Canalys Analyst Amber Liu. “Vendors had significant stockpiles going into July, but sell-through gradually improved from September owing to aggressive discounting and promotions. The pricing strategy of new products is cautiously crafted, even for Apple, to avoid significant pushback from consumers who now tend to be very sensitive to any price hike.”

More to come.

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