Bangladesh’s smartphone market shipments declined 3 percent YoY in Q2 2022, according to the latest research from Counterpoint’s Market Monitor Service. The market declined due to soaring inflation and rising commodity prices, which resulted in a weakened consumer purchasing power for electronics. However, Bangladesh performed well as one of the most stable economies in South Asia.
Commenting on the brands in the market, Senior Analyst Karn Chauhan said, “In Q2 2022, Xiaomi captured the top spot for the first time in Bangladesh’s smartphone market with a share of 28.8 percent and 134 percent YoY growth. Xiaomi’s growing offline presence, well-developed local manufacturing facility and a wide entry-level portfolio with features like larger display size, huge battery capacity and improved camera helped it to reach the top spot. Eid festivities also helped Xiaomi drive significant volumes. Going forward, the brand will continue to focus on offline expansion and adding more features to the entry-level segment.”
“Samsung’s newly added budget smartphones and their steady performance in the entry- and mid-price levels took the brand to the second spot with a 17.3 percent market share and 65 percent YoY growth. Samsung’s active promotions and marketing helped it remain in the top three despite falling from its first position in Q1 2022. vivo took third place with a 10.1 percent share driven by its strong omni-channel presence and ability to target a range of entry- and mid-level price bands,” he added.
Commenting on the market dynamics, Chauhan said, “Bangladesh’s smartphone market experienced a good start with Eid celebrations during April. The month contributed almost half of the quarter’s total shipment volumes. However, the volumes declined adversely in May and June due to smartphone costs rising by up to 10 percent on increasing component prices and the addition of VAT. OEMs are expected to increase smartphone prices by up to another 20 percent in the coming months.”
Bangladesh’s feature phone shipments declined 12 percent YoY, mainly due to the shift towards smartphones, which resulted in a 9 percent YoY decline in the country’s overall mobile handset market in Q2 2022. Symphony continued to be at the top position in Bangladesh’s feature phone market in Q2 HMD.
