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STOCKHOLM, June 15 (Reuters) – The European smartphone market declined by 12% in the initial quarter of the year, registering the cheapest shipments in the time period for approximately a decade, according to a report from Counterpoint Study.
The tumble was a consequence of ongoing component shortages, COVID-19 connected lockdowns in China, deteriorating economic problems and the onset of the Russia-Ukraine war, the exploration firm said.
Though market place leader Samsung (005930.KS) saw shipments tumble by 16% and Apple’s (AAPL.O) declined 6%, Realme was the only top rated-5 seller to sign up an yearly development in shipments.
“Soaring inflation concentrations throughout the area are impacting buyer paying out, when Samsung and Apple, Russia’s 1st and 3rd rated smartphone distributors, halted all shipments into Europe’s major market in early March 2022,” said Jan Stryjak, Counterpoint Research’s associate director.
The analysis firm expects yearly progress in smartphone shipments in Europe to keep on to decrease for the subsequent couple of quarters, especially in the second quarter.
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Reporting by Supantha Mukherjee in Stockholm Modifying by Kirsten Donovan
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