The European smartphone market declined by 12% in the primary quarter of the year, registering the most reduced shipments in the period for almost 10 years, as per a report from Counterpoint Research.
The fall was a consequence of continuous part deficiencies, COVID-19-related lockdowns in China, disintegrating monetary circumstances, and the beginning of the Russia-Ukraine war, the research firm said.
While market pioneer Samsung (005930. KS) saw shipments fall by 16% and Apple’s (AAPL.O) declined 6%, Realme was the main top-five vendor to register an annual growth in shipments.
“Rising expansion levels across the district are affecting buyer spending, while Samsung and Apple, Russia’s first and third-positioned smartphone vendors, ended all shipments into Europe’s biggest market toward the beginning of March 2022,” said Jan Stryjak, Counterpoint Research’s partner chief.
The research firm expects annual growth in smartphone shipments in Europe to keep on declining for the following couple of quarters, particularly in the subsequent quarter.