The smartphone market reversed its decline in 2021 despite component shortage

COVID-19 forced many countries to impose lengthy lockdowns and curbs in 2021, ravaging smartphone manufacturers' supply chains. The ongoing semiconductor shortage did not help either, leading to a component shortage and availability issues. Despite these significant bottlenecks, the smartphone industry grew for the first time since 2017. The top five brands saw healthy growth in their smartphone shipments, with Apple, Xiaomi, Oppo, and Vivo posting double-digit growth and shipping a record number of smartphones.



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