Apple Is the Only Gainer as Smartphone Market Shrinks Again in Q1 2022

There’s a lot of very good reasons this is happening, IDC said.

The resulting economic uncertainty is becoming a norm, making stock markets roil along the way.

The news is unlikely to surprise anyone who’s been watching the financial world lately.

Major market indices have so far lost value this month, with the tech-heavyNasdaq Composite dropping nearly 12%.

China’s Xiaomi, in third place, tumbled nearly 18%.

Fourth-place Oppo and fifth-place Vivo, also Chinese, fell nearly 27% and 28% respectively.

IDC counted more than 56.5 million iPhones shipped, up more than 2% from the year prior.

People still need phones though, Reith said.

“It’s just a matter of when that demand resumes.”