Geopolitical and economic uncertainty is hindering any chance of recovery in the global smartphone market, with shipments falling during the first quarter of 2022 and ongoing challenges causing slower than expected growth this year. Figures from Canalys show that overall shipments fell by 11% during the first three months of the year, with traditionally sluggish seasonal demand compounded by lockdowns in China, Russia’s invasion of Ukraine, and the rising cost of living in many other countries. This has tempered optimism that 2022 would see the market rebound after the impact of global lockdowns, economic uncertainty, and an industry-wide component shortage (opens in new tab) that had all seen sales fall in 2020 and 2021.
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