The year 2022 was the worst in a decade for European smartphone shipments, according to a new report from Counterpoint Research.
Although Apple's iPhone 14 launch was the weakest in Europe for a decade, Counterpoint credits it with helping Europe's Q4 2022 beat Q3 2022, though the quarter was down 24% YoY.
The European smartphone market continued to suffer from a dire economic climate and ongoing geopolitical uncertainty with shipments declining by 24% year-on-year in Q4 2022, according to the latest research from Counterpoint Research's Market Monitor service. This made Q4 2022 Europe's worst fourth quarter since Q4 2011, and 2022 the worst year since 2012. However, Apple's iPhone 14 launch, despite being its weakest major launch in Europe for a decade, and wider seasonal promotional activity helped shipments to grow by 6% compared to Q3 2022.
Counterpoint Research's Associate Director, Jan Stryjak said, "there was no let up for European consumers in Q4 as the cost of living remained at record levels. Yes, the traditional Christmas boost meant quarterly shipments increased compared to Q3, but consumer demand remained muted. Apple's usual strong end to the year was weaker than expected, allowing Samsung to maintain its leadership of the European market. There was relatively good news for some OEMs though. Xiaomi's YoY decline of 'only' 6% indicated a recovery from its troubles in 2021, while OPPO regained ground as realme looked to manage inventory in Eastern Europe."
Commenting on the outlook for 2023, Stryjak added "the challenging macro climate and ongoing geopolitical tensions will continue into 2023 and potentially get worse initially as the cost-of-living crisis deepens through Winter. Some countries are likely to fall into recession, so with weakened consumer demand and high inventory levels for some OEMs, the first half of 2023 will be tough. However, inflation has stabilised and wholesale energy prices have dropped, leading to hopes of interest rate and energy bill cuts later in the year. This should boost consumer confidence and spur demand, leading to a better second half of the year."
Hit the link below for the full report...
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Although Apple's iPhone 14 launch was the weakest in Europe for a decade, Counterpoint credits it with helping Europe's Q4 2022 beat Q3 2022, though the quarter was down 24% YoY.
The European smartphone market continued to suffer from a dire economic climate and ongoing geopolitical uncertainty with shipments declining by 24% year-on-year in Q4 2022, according to the latest research from Counterpoint Research's Market Monitor service. This made Q4 2022 Europe's worst fourth quarter since Q4 2011, and 2022 the worst year since 2012. However, Apple's iPhone 14 launch, despite being its weakest major launch in Europe for a decade, and wider seasonal promotional activity helped shipments to grow by 6% compared to Q3 2022.
Counterpoint Research's Associate Director, Jan Stryjak said, "there was no let up for European consumers in Q4 as the cost of living remained at record levels. Yes, the traditional Christmas boost meant quarterly shipments increased compared to Q3, but consumer demand remained muted. Apple's usual strong end to the year was weaker than expected, allowing Samsung to maintain its leadership of the European market. There was relatively good news for some OEMs though. Xiaomi's YoY decline of 'only' 6% indicated a recovery from its troubles in 2021, while OPPO regained ground as realme looked to manage inventory in Eastern Europe."
Commenting on the outlook for 2023, Stryjak added "the challenging macro climate and ongoing geopolitical tensions will continue into 2023 and potentially get worse initially as the cost-of-living crisis deepens through Winter. Some countries are likely to fall into recession, so with weakened consumer demand and high inventory levels for some OEMs, the first half of 2023 will be tough. However, inflation has stabilised and wholesale energy prices have dropped, leading to hopes of interest rate and energy bill cuts later in the year. This should boost consumer confidence and spur demand, leading to a better second half of the year."
Hit the link below for the full report...
Read More