Tech

Smartphone sales fell 10% globally in May


NEW DELHI : Global smartphone sales fell nearly 10% from a year earlier in May, falling below the 100 million mark only in a decade due to a variety of market-impacting factors.

According to a June 30 report by Counterpoint’s Market Pulse research service, May also marked the 11th consecutive month of decline in smartphone sales.

Sales in May fell to 96 million units, in the second consecutive decline in global smartphone sales. The market research firm noted that while the semiconductor chip shortage is starting to ease, other factors such as rising inflation and instability in Europe due to the Russia-Ukraine war are affecting business. smartphone sales number.

This drop in sales could lead to increased inventory with sellers, in typical fast-moving markets like India, Counterpoint notes.

In turn, this will cause a slowdown in shipments as sellers will seek to clear existing inventory before shipping new shipments.

Earlier this year, market reports noted that smartphone shipments in India had declined due to falling phone demand as well as the global supply crisis. In May, experts suggested that rising device prices, plus the lack of attractive offers and discounts that the market has long been accustomed to, had caused Indian smartphone users to prolong the upgrade cycle. their products.

While Indians upgraded their phones every six months in 2016, the upgrade cycle is now around 24 months.

Tarun Pathak, research director at Counterpoint, said factors such as inflation and a lack of innovation in smartphones are causing users around the world to delay buying their phones for how long.

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