Is the economy getting better or worse post-pandemic? If the total smartphone production in Q3 2022 can be a canary in the mine, the economy is not so good right now. According to Counterpoint Research's latest report, global smartphone production in Q3 2022 shrank 12% compared to the same quarter last year.
A total of 301 million smartphones were released and this is the lowest ever recorded since 2014. Samsung is still on top with 64 million devices followed by Apple (48.8 million), Xiaomi (40.5 million), Oppo (29.4 million) and Vivo (26 million). Among the five largest smartphone manufacturers only Apple showed an increase in production driven by the introduction of the new iPhone 14 series. Oppo and Vivo each recorded a significant 23% reduction in production.
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