Trade Now

Capital at risk Advertisement
Share Name Share Symbol Market Type
Apple Inc NASDAQ:AAPL NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.66 -0.39% 168.58 168.53 168.61 170.99 168.19 170.06 56,162,599 21:23:25

European Smartphone Market Fell 12% in 1Q, Counterpoint Research Says

15/06/2022 11:51am

Dow Jones News


Apple (NASDAQ:AAPL)
Historical Stock Chart


From Jun 2022 to Aug 2022

Click Here for more Apple Charts.

By Dominic Chopping

 

STOCKHOLM--The European smartphone market declined by 12% year-on-year in the first quarter of 2022, as continuing component shortages, Covid-19 lockdowns in China, deteriorating economic conditions and the onset of the Russia-Ukraine war all weighed, according to a report from Counterpoint Research.

The research firm said that 49 million smartphones were shipped in Europe in the quarter, the lowest first-quarter total since 2013.

The region's biggest vendor, Samsung Electronics Co., saw shipments fall 16% on the year while Apple Inc.'s fell 6%. Realme was only the top-five vendor to register annual shipment growth in the quarter, with a rise of 67%, it said.

"Existing issues such as Covid-19 and component shortages have been exacerbated by new economic and geopolitical challenges," said Jan Stryjak, Counterpoint Research Associate Director.

"Rising inflation levels across the region are impacting consumer spending, while Samsung and Apple, Russia's first and third ranked smartphone vendors, halted all shipments into Europe's largest market in early March 2022," he said.

Looking ahead, the overall situation is expected to get worse before it gets better, with many countries in Europe close to recession and the Russia-Ukraine war unlikely to be resolved any time soon, Counterpoint Research said.

Annual growth in smartphone shipments is therefore expected to continue to decline for the next few quarters, especially in the second quarter, as the cost of living across the region hits record highs and the full impact of Samsung and Apple's withdrawal from Russia is realized, it added.

 

Write to Dominic Chopping at dominic.chopping@wsj.com

 

(END) Dow Jones Newswires

June 15, 2022 06:36 ET (10:36 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

1 Year Apple Chart

1 Year Apple Chart

1 Month Apple Chart

1 Month Apple Chart
ADVFN Advertorial
Your Recent History
NASDAQ
AAPL
Apple
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

Log in to ADVFN
Register Now

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20220811 20:38:32