Bangladesh Smartphone Shipments Decline 23% YoY in 2022 on High Inflation

  • Bangladesh’s smartphone shipments declined 23% YoY in 2022 due to high inflation.
  • Deteriorating consumer demand and price hikes due to additional taxes also contributed to the decline.
  • Xiaomi became the No. 1 smartphone brand in Bangladesh for the first time in 2022, up from No. 6 in 2021.
  • Xiaomi captured an 18% market share in 2022 followed by Samsung with 13%.
  • Over 1 million 5G smartphones were shipped for the first time, with the 5G smartphone share rising to 17%.
  • Symphony led the overall handset market (including feature phones) in 2022 followed by itel.

New Delhi, Seoul, Hong Kong, Beijing, London, Buenos Aires, San Diego – February 20, 2023

Bangladesh’s smartphone shipments declined 23% YoY in 2022, according to the latest research from Counterpoint’s Market Monitor Service. The high inflation levels, macroeconomic crisis, disruption of the global supply chain, increased import duties and newly imposed value-added tax (VAT) all contributed to the decline. However, Xiaomi and Nokia HMD’s shipments increased significantly as they continued to focus on improving localization and pricing strategies to make smartphones affordable.

Commenting on the factors that affected the shipments in 2022, Research Analyst Akshay RS said, “The year started with weak consumer demand due to geopolitical uncertainties and rising inflation. An increase in import duties in the September-ended quarter combined with the application of value-added tax (VAT) in the December-ended quarter aggravated the situation and led to Bangladesh’s first double-digit smartphone shipment decline in seven years. At the same time, the opening of letters of credit for components became harder due to declining foreign currency reserves. This led to a reduction in the production of local handset manufacturers.”

Bangladesh Smartphone Market Share 2022 vs 2021

Xiaomi reached its highest-ever shipments in 2022 to become the #1 smartphone brand for the first time. The brand almost doubled its volume in 2022 compared to 2021. Xiaomi’s Redmi smartphones in the budget price band (BDT 10,000-BDT 20,000 or around $100-$200), like the 10A, 10C and 10 (2022), drove volumes for the brand. Samsung slipped to the second spot with a market share of 13% in 2022. Weak smartphone imports due to spiraling import costs, reduced focus on the entry-level segment and fewer launches in the mid segment led to an overall decline. realme slipped to the third spot with an 11% market share due to increased competition in the entry- and mid-level price bands. However, promotions and strong marketing helped realme remain a strong competitor. vivo and OPPO were able to maintain their market shares in 2022 but declined YoY in terms of shipment volumes by 17% and 28% respectively.

Talking about the key buying factors in 2022, Research Analyst Akshay RS said, “The mid-tier price segment (BDT 20,000-BDT 30,000 or around $200-$300) shipments grew 17% YoY in 2022 and it was the sweet spot for the market in 2022. Smartphones with large displays, 128GB and above internal memory size and 5,000 mAh and above battery capacity were the key specifications preferred by Bangladesh consumers. The trend of smartphone upgrades and transition was increasingly leaning towards Chinese brands as they offer advanced features even in their entry-level models.”

Bangladesh’s overall mobile handset market declined 8% YoY in 2022. Symphony maintained its top position in the handset market, capturing a 26% share. The feature phone market grew 4% YoY in 2022 due to the weakened transition to smartphones caused by smartphone price hikes in the second half of the year. Smartphone share in the overall handset shipments declined to 39% in 2022 from 46% in 2021. Symphony also retained its top position in Bangladesh’s feature phone market, capturing a 37% share followed by itel, Nokia HMD and Walton.

5G smartphone shipments exceeded 1 million units for the first time in 2022, growing at 151% YoY. The share of 5G smartphones in Bangladesh’s smartphone market also reached an all-time high of 17% in 2022, compared to 9% in 2021.

On the 2023 outlook, Senior Analyst Karn Chauhan said, “After the challenging year for Bangladesh’s smartphone market, we believe the economy will slowly start recovering in 2023. The resumption of the feature phone-to-smartphone transition and acceleration in 5G adoption will likely help grow the market. However, the country’s management of inflation risks and cost-of-living crisis will determine the extent of this growth.”


Counterpoint Technology Market Research is a global research firm specializing in products in the TMT (technology, media, and telecom) industry. It services major technology and financial firms with a mix of monthly reports, customized projects, and detailed analyses of the mobile and technology markets. Its key analysts are seasoned experts in the high-tech industry.

Analyst Contacts:

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LATAM Smartphone Shipments up 9% YoY; Samsung Widens Lead to All-time High

  • LATAM smartphone shipments increased 9% YoY and 8% QoQ in Q2 2022.
  • Samsung led the market with 43.5% share, followed by Motorola with 19.6% share.

Buenos Aires, New Delhi, Hong Kong, Seoul, London, Beijing, San Diego – August 16, 2022

Latin America’s (or LATAM’s) smartphone shipments increased 9% YoY and 8% QoQ in Q2 2022, according to the latest data from Counterpoint Research’s Market Monitor service. The growth came despite the regional economic crises and weak global smartphone shipments. Argentina led the region with 32% YoY growth, followed by Mexico and Colombia. Samsung’s shipments and market share reached all-time highs during the quarter.

Commenting on the market dynamics, Principal Analyst Tina Lu said, “Samsung, Xiaomi and Apple’s shipments grew YoY in the LATAM market. These brands managed to offset the loss registered by other brands in LATAM’s overall shipment numbers. But the shipments didn’t match consumer demand, resulting in a record-high inventory, especially for Samsung and to a lesser degree for Xiaomi.”

Lu added, “Inventory was especially high in the higher price bands. Shipments in the $250 and above price band more than doubled YoY. The economic crisis did not allow the consumer demand to be as high as the OEMs’ expectations. Furthermore, in terms of product rotation, many retailers and operators were offering longer payment terms of up to 24 installments. 5G is still not widely demanded in the region. Most 5G devices are from the high-end segment.”

Research Analyst Andres Silva said, “Q2 is usually the second biggest quarter of the year in terms of seasonality as it includes Mother’s Day and Father’s Day in most markets. Both these festivals see key promotional sales. This year too, OEMs had promotions to offer, like Xiaomi had the ‘Xiaomi Day’, where most models had double-digit discounts. Colombia also had the “Dia sin IVA”, a VAT (value-added tax)-free day. Although it was only for one day, it accelerated the market to some extent”.

Top Smartphone OEMs’ Market Share in Latin America, Q2 2021 vs Q2 2022

Source: Counterpoint Research Q2 2022 Market Monitor

Q2 2022 Market Summary

  • Samsung was one of the few OEMs that were able to resolve or significantly improve the supply chain issue. This drove a massive surge in volume in both YoY and QoQ terms.
  • Samsung’s shipments and share in Q2 2022 were at all-time highs. The brand saw strong shipments but softer sell-through, resulting in high inventory, especially in the mid-high- and high-price segments.
  • Supply shortages impacted Motorola’s shipments for most of Q1 2022. Starting Q2, it increased shipments and launched low-price models in the region, which led to higher sell-through despite the slower consumer demand.
  • Xiaomi continued to grow YoY and QoQ. Very aggressive pricing for the Note series, specifically the Redmi Note 11 model, led to this growth.
  • Xiaomi’s sub-brand Redmi grabbed 91% of its volume in the region. Redmi has been very aggressive in dropping the price of its Note series to compensate for the absence of the A series.
  • OPPO saw a shipment volume decline, but the brand improved its position in the region. Most of its volume is still concentrated in Mexico.
  • OPPO is pushing to increase its participation in the affordable premium segment ($300-$500). It has launched the Reno 7 model in the region but is facing fierce competition from established OEMs. The brand is intensifying marketing, particularly at the sales point.
  • Apple grew YoY driven by the iPhone 11 model and Apple Store and premium resellers partnering with banks to offer installment payments.
  • Apple’s volume and share in the region continued to grow. Its older 4G model iPhone 11 drove the growth. Brazil, Chile and Mexico led in volume terms.
  • The “Others” category continued to decline YoY, affected by larger OEMs’ aggressive promotions and bundling.



Counterpoint Technology Market Research is a global research firm specializing in products in the TMT (technology, media and telecom) industry. It services major technology and financial firms with a mix of monthly reports, customized projects and detailed analyses of the mobile and technology markets. Its key analysts are seasoned experts in the high-tech industry.


Analyst Contacts:

Tina Lu


Andres Silva



Peter Richardson

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Consumption of Indian Semiconductor Components to Climb to $300-Billion Cumulative Revenue During 2021-2026

  • Mobile and wearables, IT and industrial segments currently contribute around 80% of the semiconductor revenues in India.
  • ‘Make in India’ and Production Linked Incentive schemes will boost local sourcing of semi-components in the coming years.
  • Further policy reforms and building of a semiconductor ecosystem will reduce reliance on imports going forward.

New Delhi, Seoul, San Diego, Buenos Aires, London, Hong Kong, Beijing – August 16, 2022

India’s semiconductor component market will see its cumulative revenues climb to $300 billion during 2021-2026, according to the ‘India Semiconductor Market Report, 2019-2026’, a joint research by the India Electronics & Semiconductor Association (IESA) and Counterpoint Research. IESA is the premier industry body representing the ESDM and intelligent electronics industry in India. It acts as a trusted knowledge partner to the central and state governments, helping devise policies and incentives for the industry to attract investments into India. The comprehensive research on India’s semiconductor market focuses on the bottom-up modelling unit as well as revenue demand for semiconductor components covering the entire Bill of Materials (BoM) of multiple end-device and equipment categories across seven major sectors in India – Mobile and Wearables, Information Technology, Automotive, Industrial, Telecom, Aerospace and Defence, and Consumer Electronics – from domestic consumption as well as export perspective. The report provides detailed recommendations, potential policies and a framework for building a robust domestic semiconductor ecosystem to boost local production and sourcing.

India Semiconductor Market Dashboard, 2021-2026
Source: India Semiconductor Market Report


IESA CEO and President Krishna Moorthy said, “Before the end of this decade, there will be nothing that will not be touched by electronics and the ubiquitous ‘chip’. Be it fighting carbon emissions, renewable energy, food safety, or healthcare, the semiconductor chip will be all-pervasive. Imagine this – all children all over India get educated in virtual classrooms by the country’s best teachers. The chip makes it possible. Again, imagine everyone in the country gets quality healthcare and diagnostics done remotely. Medicines are delivered by drones at your doorstep, even in the farthest villages of India. The chip will make it possible, and we will see this in front of our eyes very soon. Let us make India the semiconductor nation.”


India is poised to be the second largest market in the world from the perspective of scale and growing demand for semiconductor components across several industries and applications. This demand is being pushed by the increasing pace of digital transformation among the country’s consumers, enterprises and public sector through the adoption of new technologies, from advanced connectivity to content consumption to the cloud. These cover smartphones, PCs, wearables, cloud data centers, Industry 4.0 applications, IoT, smart mobility, and advanced telecom and public utility infrastructure.


Mobile and wearables, IT and industrial sectors alone contributed to almost 80% of the semiconductor revenues in India in 2021. Commenting on the mobile and wearables industry, Research Director at Counterpoint Research Tarun Pathak said, “The mobile and wearables sector was the biggest contributor to India’s semiconductor industry in 2021. Mobile devices have become a primary tool for internet connectivity given that broadband and laptop/PC penetration remains low. In the last five years, the ‘consumer digital transformation’ has accelerated with the availability of cheap mobile internet, and mobile devices have connected a big part of the Indian population. Also, the gradual shift from feature phones to smartphones has been generating increased proportions of advanced logic processors, memory, integrated controllers, sensors and other components. This will continue to drive the value of the semiconductor content in smartphones, which is still an under-penetrated segment in India, aided by the rise of wearables such as smartwatch and TWS.”






Commenting on the potential opportunity in the mid-to-long term, Counterpoint Research Vice President Neil Shah said, “The next big boom for semiconductor components will come from across sectors. However, the telecom sector with the advent of 5G and fiber network rollout will be a key catalyst in boosting the semiconductor components consumption. This consumption will not only come from the advanced semiconductor-heavy 5G and FTTH network infrastructure equipment, which will contribute to more than 14% of the total semiconductor consumption in 2026, but also from the highly capable AI-driven 5G endpoints, from smartphones, tablets, PCs, connected cars, industrial robotics to private networks. Also, ongoing efforts to embrace cleaner and greener vehicles (electric vehicles) will provide an impetus for the automobile industry to adopt advanced technologies, which in turn will boost the demand for semiconductor components in India. Consumer electronics, industrial, and mobile and wearables will be the other key industries for the growth of the semiconductor market in India. Further, this semiconductor demand will not only be driven by domestic consumption but also by the growing share of exports.”

In 2021, India’s end equipment market stood at $119 billion in terms of revenue. It is expected to grow at a CAGR of 19% from 2021 to 2026. The Electronic System Design and Manufacturing (ESDM) sector in India will play a major role in the country’s overall growth, from sourcing components to design manufacturing. The semiconductor industry in India is on a path to immense growth over the next few years to help India’s economy reach the next stage for both domestic consumption and exports. While the country is becoming one of the largest consumers of electronic and semiconductor components, most components are imported, offering limited economic opportunities for the country. Currently, only 9% of this semiconductor requirement is met locally.

The demand for semiconductors is growing astronomically worldwide. However, multiple factors, including the pandemic and global geopolitical events, have heavily impacted the manufacturing of the components. This research is aimed at analyzing the market situation, manufacturing supply chain, and prospects for India as a premier manufacturing destination not only for finished goods but also for semiconductor components. While the local production is currently low, India has immense potential to become a leading semiconductor component supplier in the coming years, provided the talent pool and resources are utilized correctly. The government’s initiatives, from ‘Make in India’ to Production Linked Incentive (PLI), will help accelerate this journey but will need some additional reforms to increase local manufacturing and sourcing of semiconductor components. If this is done, the semiconductor market can be a major contributor to economic growth, and India’s push to become a $5-trillion economy.


IESA Vice President Sunil G Acharya said, “Semiconductors will be inside everything intelligent. India is becoming a tech-centered growth story with advancing technologies and innovation being integral to democratizing access. The semiconductor study will play a major role in India’s growth. A large young population combined with an increased focus on digitalization, advancing skill levels, growing manufacturing and foreign investment traction will take India’s semiconductor industry to the next level in the coming years.”



Commenting on the current stage of local manufacturing, Research Analyst at Counterpoint Research Shivani Parashar said, “To achieve India’s semiconductor vision, a robust and indigenous technology ecosystem will be required to build on the existing policy foundation through PLI-like schemes. Renewed focus is needed for incentivizing the country’s design ecosystem in a manner that helps create a stronger foundation for design-led manufacturing and allied sectors, be it for local consumption or exports. This strategy will transform the landscape in the coming years to drive local sourcing trends. The share of local sourcing is expected to grow to over 17% by 2026. This translates into a six-fold rise in potential locally-sourced semiconductor revenues.”

IESA Vice President (Public Policy, Government and Corporate Relations) Anurag Awasthi said, “From safety razors to space shuttles, everything will be powered by the chip. Let us ensure our chips are not down in the world of tomorrow! Keeping this as an aim, MeitY is working further towards making India one of the next technology powerhouses, especially in a pandemic-struck world where there has been a realization of the need for more flexible and diverse supply chain ecosystems. The government is keen to leverage India’s existing strengths in mobile manufacturing, software and start-up hubs for other critical industries in the ESDM sector.”


Research Analyst at Counterpoint Research Priya Joseph added, “Government policies including PLI, New Electronics Policy, 2019, Electronics Manufacturing Clusters, and Scheme for Promotion of manufacturing of Electronic Components and Semiconductors (SPECS) are all being equipped to boost domestic design, manufacturing and assembly. To help drive more initiatives under the themes of Make in India and Digital India, the government, in its last budget, pushed the total allocation to $936.2 million. This step not only aims to incentivize India-based manufacturing but also catalyze investments in the sector to support job creation, ease of doing business, import reduction and export promotion.”

To access the full report, please contact IESA at the coordinates below.

Vine Sophia Email:

Feel free to contact us at press(at) for questions regarding semiconductor research and insights.


Counterpoint Technology Market Research is a global research firm specializing in products in the TMT (technology, media, and telecom) industry. It services major technology and financial firms with a mix of monthly reports, customized projects, and detailed analyses of the mobile and technology markets. Its key analysts are seasoned experts in the high-tech industry.

Analyst Contacts:

Shivani Parashar


Neil Shah

Tarun Pathak

Priya Joseph


Counterpoint Research


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Combined Global Market Share of Huawei, OPPO, Vivo, Xiaomi and Realme Reaches Highest-Ever Level in Q2 2019

Overall smartphone shipment declined 1% in Q2 2019, making it the seventh consecutive quarter of declining shipments.

Huawei’s shipment ban hurt it in overseas markets, but domestic market growth offset some of the pain. 

Realme entered the top 10 brands for the first time.

New Delhi, Mumbai, Hong Kong, Seoul, San Diego, London, Buenos Aires – July 31st, 2019

The combined global smartphone market share of Chinese majors Huawei, OPPO, Vivo, Xiaomi, and Realme (HOVXR) reached 42% in Q2 2019, the highest it has ever been. This was even as global smartphone shipments fell 1.2% year-on-year (YoY) to 360 million units during Q2 2019, making it the seventh consecutive quarter of decline.

Commenting on the record market share for HOVXR, Varun Mishra, Research Analyst at Counterpoint Research noted, “Heavy marketing, faster portfolio refresh, high spec devices at aggressive prices, and multi-channel presence are some of the key reasons why Chinese brands fared better than the local and global OEMs. These brands have been aggressively expanding outside China and achieving growth offsetting the saturation in their home market. Their strategies and product portfolios are more aligned to the local needs and preferences, which is one of their key strengths.”

Exhibit: Smartphone Shipment Market Share 2019 Q2

Source: Counterpoint Research: Quarterly Market Monitor Q2 2019

The smartphone market slowdown is mainly due to China, which has continued to decline for two years now. China alone accounts for over one-fourth of the global smartphone shipments and declined 9% YoY during the quarter. The heightened US-China trade war during the quarter has further escalated the uncertainties of the smartphone market. India remains a key growth market as the shipments set a second-quarter record,

Commenting on the trade war Tarun Pathak, Associate Director at Counterpoint Research, said “The US-China trade war escalated with Huawei added in the entity list in May. Despite the ban, Huawei was able to register a 4.6% growth during the quarter, capturing a 16% market share. The effect of the ban did not translate into falling shipments during this quarter, which will not be the case in the future. In the coming quarters, Huawei is likely to be aggressive in its home market and register some growth there, but it will not be enough to offset for the decline in its overseas shipments. This will further lead to the decline of the overall smartphone market in 2019. However, the gap created in the market by Huawei gives a window of opportunity to other OEMs, especially Samsung, to leverage.”

A portion of the decline in 2019 is likely to be compensated by the adoption of 5G.

Commenting on 5G, Varun Mishra, added We expect that 5G will have a faster rollout than 4G LTE. Unlike 4G, which was split between FDD-LTE and TD-LTE, 5G has a universal standard, which will make the ramp-up faster. We expect sales of 5G devices to be over 20 million in 2019. Network expansion of carriers, subsidies, and more OEMs committing to early 5G device launches than during the early 4G era Since these devices are expected to be limited to the premium segment in 2019, the adoption will also drive the market average selling price (ASP). Consumers are also expecting to pay higher for the 5G smartphone than what they paid for the 4G device.”

Even though shipments continued to decline, the market ASP is likely to increase, which will drive revenue for the industry. Adoption of 5G in mature economies and the shift from entry-level phones to mid-segment phones in emerging economies will drive up ASPs.

Key Takeaways:

  • Samsung grew 7.1% YoY, capturing over one-fifth of the global smartphone market share. The OEM has completely overhauled its product portfolio in 2019 with its A and M series targeting the sub $300 price segment aggressively. The flagship S series, in which Samsung launched three devices instead of the usual two, covering wider price points also continue to do well. Samsung was also one of the first OEMs to launch a 5G device – S10 5G, which remains popular in the 5G adopting
  • Huawei grew 4.6% YoY, but the US trade ban will its growth momentum, especially in the overseas market. The effect in Q2 2019 was not severe as the order came late into the quarter. The real effect of trade sanction will be in Q3 2019. Shipments in overseas markets are estimated to register a steep decline.
  • Apple iPhone shipments fell 11%, and iPhone revenues fell 12% year-on-year. Despite this decline, iPhone sales trends are improving. Apple’s buyback programs and other marketing are dampening growing holding periods. However, the lack of 5G over upcoming quarters may again increase holding periods.
  • Realme entered the top 10 OEMs globally for the first time. It took Realme only a year to achieve this feat. This is one of the fastest ramp-ups. Strong performance in India and expansion overseas drove its growth. This was also the third consecutive quarter that Realme sold within top 5 brands in India.
  • This was the third consecutive quarter of a decline in Apple iPhone shipments. To ramp up sales, Apple implemented price cuts for the iPhone XR in India and China markets. Amid the slowdown in China and likely launch of 5G capable iPhone in 2020, Apple will have to concentrate its efforts on emerging markets.
  • The market further consolidated with the top 10 brands’ market share increasing to 79% from 76% a year ago.
  • BBK Group is now the second-largest smartphone manufacturer globally.


Analyst Contacts:

Tarun Pathak  
Varun Mishra  
Shobhit Srivastava

Follow Counterpoint Research  

You can also visit our Data Section (updated quarterly) to view smartphone market share Globally and from the USA, China and India

Growth Opportunities in the Saturated Global Smartphone Market

The global smartphone market declined 2% annually in 2018 and is expected to remain flat in 2019. Replacement cycles are lengthening, and the lack of breakthrough innovations is making it difficult to attract buyers. Mature markets like China, the US, and Europe, are showing few signs of recovery. Competition is increasing even in emerging economies like India as OEMs expand aggressively. In such a scenario, localized offerings, as well as an appropriate channel and marketing mix, have become crucial to stay relevant.

Even in this sluggish market, there are pockets of growth. Chinese OEMs, especially, have been quick to identify these areas. The saturation in the home market has led the Chinese players to look for newer growth arenas overseas. This has created a wave of disruption and smartphone adoption in emerging economies like India, South East Asia (SEA), and the Middle East and Africa (MEA). Extensive product innovations and effective marketing strategies have helped some OEMs to achieve exponential growth across price bands, in both overseas and the Chinese market.

Clearly, the discovery of new markets and new pockets of growth is essential for smartphone brands to grow. Counterpoint has identified some such growth areas. We have split these across price bands, geographies, and product features. Let us take a closer look at these areas:-

One of the key reasons for the slowdown in the global smartphone market was the sluggishness in mature markets. Even the collective smartphone shipment growth in emerging markets was not enough to offset the decline in the mature markets. However, there are some countries which are still getting the attention of the smartphone supply chain and OEMs. India is one such example as it was the fastest growing country for smartphone sales among other emerging smartphone markets. Exhibit 1 highlights other such geographical regions where the smartphone segment continues to grow.


Exhibit 1: Smartphone YoY sell-through growth by regions – 2018

*APAC Ex China India and Japan. Source: Counterpoint Market Pulse 

  • Mid and Premium Segment Smartphones

The growth momentum is shifting from the entry-level segments to higher price bands. Increased use-cases and mature smartphone users upgrading their devices are driving this trend. The premium segment (>US$600) and mid-segment (US$151-US$300) have both registered high positive year-on-year (YoY) growth in 2018

There is also a trend of increasing average selling price (ASPs) of smartphones across the globe. In fact, global smartphone ASP in 2018 grew at the fastest ever pace of 11% YoY.

The maturity levels of the market have influenced the shift in price band preferences. Premium flagships from OEMs are raising ASPs in mature markets like North America, Japan, Korea, and Western Europe. In emerging markets, ASPs are increasing because of higher-priced devices in the affordable premium segment. Examples of such devices include OnePlus, older iPhone models, and models with higher ASPs from brands like OPPO, Vivo, Xiaomi, and Huawei.

The premium and the mid segment have emerged as the new pockets of growth in terms of price bands. All the key OEMs operating in these segments grew their sales. The diffusion of high-end feature from premium to the mid-segment is making it a viable option for buyers of entry-level and mid-high segment smartphones.

  • Key Features Driving Growth

OEMs have been focusing on differentiating their offerings by chalking out new product categories across price bands. Features such as full-screen displays, dual-cameras, biometric security, and support for AI, are beginning to make inroads to the mid segment.  Camera, AI, memory, and display are the key growth driving features.

Our forecast for the smartphone market in 2019 is flat, but we believe as the Chinese economy recovers in late Q2, the overall smartphone market will stop the negative growth starting from H2 2019. We believe the growth opportunities will remain hidden like last year, and only a handful of companies will succeed in gaining growth this year again.


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