Analysts believe that the reason why smartphone manufacturers are reporting significant declines in smartphone sales is that consumers are keeping their phones for longer. However, there is still a large market for pricey phones since consumers enjoy purchasing them.

Except for Samsung and Apple, almost all smartphone manufacturers reported decreasing smartphone shipments in the second quarter (April to June) of 2022. According to International Data Corp., global smartphone shipments declined by 9% in the most recent quarter compared to 2021. Chinese companies Xiaomi, Vivo, and Oppo all experienced significant declines. Xiaomi announced a 26 percent decline in smartphone shipments and a corresponding decline in revenue during the second quarter.

Here is the Global Sales volume of the smart phone

However there is high demand on flag ship phones from major brands specially price range over $1000 . Turns out rich people got plenty of money . it saw sales growth of 33% from Q1 2021 to Q1 2022.

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