CHARTGlobal smartphone market struggles to recover post-COVID, as inflation, and economic challenges slow growth across major regions.
The CHART global smartphone market saw a 12% year-on-year (YoY) decline, even though it recorded a 2% quarter-on-quarter (QoQ) growth, reaching 301 million units in Q3 2022, according to research by Counterpoint.
The market remained under pressure due to deteriorating global economic conditions. Factors such as the ongoing Russia-Ukraine war, China-US political tensions, rising inflation across regions, recession fears, and weakening national currencies continued to weigh heavily on consumer demand and overall market sentiment.
