Global smartphone production down 11 percent in Q3 2022: Trendforce

Global smartphone production declined in Q3 2022. The industry reportedly produced 289 million units from July to September, a quarterly decline of 0.9 percent from 307 million units in Q2. On a year-on-year basis, it is around 11 percent decline. While Samsung has maintained its status as the top manufacturer, Apple is the second with high production units. Xiaomi and Oppo are the third and fourth companies with the highest production units.

According to a report According to market research firm Trendforce, the smartphone market saw extremely weak demand in the third quarter. Samsung reportedly recorded production of nearly 64.2 million units, up 3.9 percent quarter-on-quarter.

However, the Korean smartphone maker is expected to see a quarterly decline in the current quarter as the manufacturer scales back production to sell devices that have already been produced.

In addition to the quarterly growth, Samsung is also leading the foldable smartphone market this year. The global foldable smartphone market is expected to reach 1.1 percent this year, with Samsung reportedly holding a 90 percent market share. By 2023, foldable phones are likely to share 1.5 percent of the global smartphone market, with Samsung expected to hold nearly 80 percent of this segment, the report said.

After Samsung, Apple comes in second on the list, with a 17.6 percent share. The Cupertino-based tech giant reportedly produced nearly 50.8 million units in Q3 2022.

Other phone companies that made it to the top 5 of the list of largest smartphone production are Xiaomi, Oppo and Vivo, at third, fourth and fifth positions respectively.

Xiaomi is said to have a 13.1 percent share of global smartphone production with its sub-brands Redmi, Poco and Black Shark.

Meanwhile, Oppo and OnePlus had a share of 11.6 percent. Vivo has an 8.5 percent market share in smartphone production, the report said.