Phone Sales Decline, Samsung and Apple Increase Market Share

New data shared by Canalys reveals that the phone market declined no less than 11 percent in the first quarter of the year, but on the other hand, both Samsung and Apple have managed to increase their market share. The dropping demand for new smartphones is caused by what Canalys describes as unfavorable economic conditions. “The global smartphone market was held back by an unsettled business environment in Q1,” said Canalys VP Mobility Nicole Peng. “Markets saw a spike in COVID-19 cases due to the Omicron variant, though minimal hospitalizations and high vaccination rates helped normalize consumer activity quickly. Vendors face major uncertainty due to the Russia-Ukraine war, China’s rolling lockdowns and the threat of inflation. All this added to traditionally slow seasonal demand. Vendors must equip themselves to respond quickly to emerging opportunities and risks while staying focu...