OPPO, Vivo, and Xiaomi Affected As Global Smartphone Market Revenue Declined by 2% Year-Over-Year Growth Rate

Top Chinese smartphone manufacturers OPPO, Vivo, and Xiaomi suffered a double-digit (2%) decline in the year-over-year growth rate of its smartphone revenue according to counterpoint.

About the Revenue

The top 5 handset makers Samsung and iPhone, OPPO, Vivo, and Xiaomi contributed about 80% of the total revenue generated by global smartphones as Samsung took the first spot with a 21% share compared with 18%, largely due to shipments of its mid-tier A series and iPhone 13 helped boost apple to a 17% share compared with 14% from the second quarter of 2021 which made it ranked second overall in the second quarter of 2022 while the other top three Chinese products have witnessed a 2% decline year-over-year growth rate and 15% decline quarter-over-quarter to revenue of $95.8billion which cleared them off with the share of 14% instead of 17% OPPO, 10% instead of 11% Vivo and 9% instead of 10% Xiaomi as compared with their second quarter in 2021. 

Counterpoint Report

According to a report recently made by counterpoint, this whole shenanigan was caused by the recent inflation, economic headwind, weakening demand, inventory backlogs, geopolitical tension, and ongoing supply chain constraints made vendors reassess their strategies for the rest of 2022 as the smartphone phone industry has continued to face increasing economic headwinds and regional uncertainty. Most especially as the top three Chinese products have experienced a collapsed operating profit as there was a double-digit decline in the second quarter of 2020 even though the global operating profit increased 6% year-over-year to $13.1billion in the second quarter of the year while the global top 2 products Samsung and iPhone recorded new revenue growth of 25% and 3% year-over-year growth in operating profit as Apple iPhone 13 recorded a high demand while Samsung was boosted by the lower-tier models and this in turn covered for the loss incurred by the smartphone shipments.

Adeagbo Folashade
Adeagbo Folashade
I am Folashade Adeagbo, a graduate of the University of Ibadan with a B.Sc. degree in engineering and currently pursuing a career in Tech (Data Analysis). Also, I am a virtual assistant and content writer who is passionate about helping people to reduce their workload through my writing skill.

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