Smartphone shipments are shrinking globally due to inflation. 

Global smartphone shipments fell to their lowest quarterly figure in two years, amid waning consumer confidence on rising inflation and recession fears. 

Data from Canalys and research firm Counterpoint revealed that the second quarter saw a 9% drop in smartphone shipments to nearly 290 million units shipped. 

It is noteworthy that “Samsung Electronics” remained the leader in the market, topping the first place with about 62 million units, 

On the other hand Apple ranked second, followed by Xiaomi, Oppo and Vivo.