Facing mixed demand brought by Covid disruption and Ukraine-Russia war, global smartphone shipments decreased in Q1 2022.

Meanwhile, smartphone ASP reached its highest of Q1 since 2012. Upstream supply constraint influenced by inflation, a greater mix of 5G migration and new tech innovations such as foldable models, and industry consolidation together made the contribution.

Q1 2021 witnessed a boom of smartphone shipments due to a push from 5G and the favourable comparison to the previous year. Global smartphone market took a big hit in Q1 2020 due to Covid-19 outbreak in multiple countries. The big dip led to the big YoY growth a year later. However, the headwinds will continue impacting the smartphone industry over the next few quarters.