The smartphone industry is not going through the best times right now and it can be said that it is the market stagnation. This is also confirmed by research firm Canalys’ new quarterly report, which points to a decline in smartphone sales around the world.

Canalys analysts estimate that in the second quarter of 2022, the global smartphone market shrank by 9% compared to the same period last year. Experts cite the complex geopolitical situation, rapid growth of inflation, oversupply in the market, and manufacturing and logistics issues that collectively lead to reduced demand, as the main reasons for the decline in smartphone sales.

The mid-range smartphones segment is currently in a difficult situation. It’s usually always packed with models, but sales are currently sluggish as buyers are now looking for cheaper devices.

The market leader continues to be the South Korean company Samsung, which has strengthened its position with affordable smartphones from the Galaxy A series. According to the results of the second quarter, Samsung has 21% of the market. Thanks to the high demand for the flagship iPhone 13 series, Apple managed to take the second place with a 17% market share. Xiaomi is in third place with a 14 percent share. In addition, two more Chinese brands – OPPO and Vivo – are among the five leaders of the global market, with 10% and 9% of the market respectively.