Overview:
- The global smartphone market recovered in 2021 driven by pent-up demand in regions like North America, Latin America and India.
- However, market growth was lower than expected due to the extended impact of COVID-19, Huawei and LG’s exit, and component shortages.
- Majority of the markets posted YoY growth except China and Southeast Asia where demand remained weak.
- The recovery could have been stronger if not for the component shortages that impacted much of H2 2021.
- Major brands navigated component shortages better than second- and third-tier brands.
- Due to the staggered launch of the iPhone 12 in 2020, demand for Apple’s first 5G-enabled phone fell into the first quarter of 2021, which helped the brand’s sales in a normally more subdued quarter.
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Varun Mishra
Varun is a Senior Analyst at Counterpoint Research based out of Gurgaon. In Counterpoint, he closely tracks mobile devices and ecosystem with a focus on Apple. He started his career as a Consultant with Infosys Limited where he was able to identify strategic avenues for business growth through deep research and analysis of markets and companies in various domains. He holds a Master of Business Administration in Marketing from Institute of Management Technology, Ghaziabad and a bachelor's degree from Coventry University, UK.
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