European smartphone market falls 12%

The European smartphone market declined by 12% in the first quarter of the year, registering the lowest shipments in the period for nearly a decade, according to a report from Counterpoint Research.

The fall was a result of ongoing component shortages, COVID-19-related lockdowns in China, deteriorating economic conditions and the onset of the Russia-Ukraine war, the research firm said.

While market leader Samsung (005930.KS) saw shipments fall by 16% and Apple’s (AAPL.O) declined 6%, Realme was the only top-five vendor to register an annual growth in shipments.

“Rising inflation levels across the region are impacting consumer spending, while Samsung and Apple, Russia’s first and third-ranked smartphone vendors, halted all shipments into Europe’s largest market in early March 2022,” said Jan Stryjak, Counterpoint Research’s associate director.

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The research firm expects annual growth in smartphone shipments in Europe to continue to decline for the next few quarters, especially in the second quarter.

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