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Qualcomm predicts big drop in smartphone sales
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American chip maker Qualcomm has released a gloomy appraisal of the smartphone business in 2022, predicting a decline in sales of at least 10%.
The company, which is uniquely placed as the key chip supplier for much of the smartphone industry, addressed the subject as part of its recentearnings release.
According to Qualcomm (viaThe Verge), “the uncertainty caused by the macroeconomic environment” has led it to downgrade its projected smartphone sales for the year from a “mid-single-digit percentage decline, to a low double-digit percentage decline”.
Another interesting snippet of information is that the industry appears to have gone from worries over shortages to a troublesome glut. Thanks to the combination of a “rapid deterioration in demand” and “easing of supply constraints” in the industry, Qualcomm revealed that its “largest customers” – likely to include Samsung and Apple – were “drawing down on their inventory”.
In other words, because demand is down and supply issues have been at least partially addressed, there are now loads of smartphones sat in factories and on shop shelves.
We’ve reported previously on suggestions that Apple hadreduced its supply orderfor the new iPhone 14 line amidst disappointingly low demand. Samsung, for its part, is said to be looking to theemerging foldables marketto help give its sales a shot in the arm.
Google itself is said to bea little concernedat sales of Samsung’s Galaxy S range, with customers said to be slipping over to the iPhone. The Android maker’s own Pixel line is said to be selling well, but then it’s starting from amuch lower pointthan both Apple and Samsung.
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Jon is a seasoned freelance writer who started covering games and apps in 2007 before expanding into smartphones and consumer tech, dabbling in lifestyle and media coverage along the way. Besides bein…
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Founded in 2003, Trusted Reviews exists to give our readers thorough, unbiased and independent advice on what to buy.
Today, we have millions of users a month from around the world, and assess more than 1,000 products a year.
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We also expect our journalists to follow clear ethical standards in their work. Our staff members must strive for honesty and accuracy in everything they do. We follow the IPSO Editors’ code of practice to underpin these standards.
