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The global smartphone shipments fell by 17 per cent (year on year) in Q4 2022, with entire 2022 shipments declining by 11 per cent to fewer than 1.2 billion, a new report has shown.

Despite shrinking demand and manufacturing issues in China's Zhengzhou, Apple reclaimed the top spot in Q4 and achieved its highest quarterly market share ever at 25 per cent, according to market research firm Canalys.

Samsung finished the quarter second with a 20  percent market share but was the largest vendor for the full year.

"Smartphone vendors have struggled in a difficult macroeconomic environment throughout 2022. Q4 marks the worst annual and Q4 performance in a decade," said Canalys Research Analyst Runar Bjorhovde.

"While low-to-mid-range demand fell fast in previous quarters, high-end demand began to show weakness in Q4. The market's performance in Q4 2022 stands in stark contrast to Q4 2021, which saw surging demand and easing supply issues," he added.

Moreover, Xiaomi maintained third place despite its share falling to 11 per cent in Q4, owing primarily to challenges in India.

OPPO and Vivo rounded out the top five, with 10 per cent and 8 per cent market shares, respectively.

The research firm forecasts flat to marginal growth in the smartphone market in 2023, predicting that conditions will remain tough.

"Though inflationary pressures will gradually ease, the effects of interest rate hikes, economic slowdowns and an increasingly struggling labour market will limit the market's potential," said Canalys Research Analyst Le Xuan Chiew.