Global smartphone market tumbles a third consecutive time this year
The Hindu
Samsung retained its leading position with a 22% market share driven by heavy promotions to reduce channel inventory.
The global smartphone market struggled with its third consecutive decline this year amid turbulent global economic conditions.
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Smartphone market dropped in the September-ending quarter falling 9% from the same time in the previous year.
“The gloomy economic outlook has led consumers to delay purchasing electronic hardware and prioritise other essential spending,” Canalys said in a blog on Tuesday.
Smartphone vendors have been challenged by increasing inventories due to low consumer demand.
They have tried to reduce the bulging inventories through aggressive discounting and promotions.
“The smartphone market is highly reactive to consumer demand and vendors are adjusting quickly to the harsh business conditions,” Canalys Analyst Amber Liu, said in the blog.
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