The drop marks the largest-ever third-quarter decline and the fifth consecutive quarter of decline for the smartphone market amidst economic uncertainties.

New research from IDC through IDC Tracker has revealed the wearable technology market has faced a challenging second quarter.

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Global smartphone sales to end-users declined 6.8% in the third quarter of 2021, compared to the same period in 2020, according to new reports from Gartner.

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The appetite for wearable devices remained strong in the first quarter of 2021 (1Q21) even as volumes retreated from record fourth quarter levels, IDC finds.

Apple’s growth was largely due to the success of the iPhone 12, which helped the company surpass Samsung to regain the status of number one global smartphone vendor for Q4 2020.

The top 10 original equipment manufacturers increased their semiconductor spend by 10% in 2020 and accounted for 42% of the market, according to Gartner.

It comes off the back of a better-than-expected year for smartphones: while total 2020 shipments declined by 5.9% in comparison to 2019, IDC says the market’s recovery in the face of the pandemic was ‘impressive’, with the momentum heading into 2021 remaining strong.

Overall global mobile phone sales to end users totalled 401 million units, a decline of 8.7% year-over-year.

Opportunity beckons to upgrade supply chain processes, transform the consumer experience and build customer loyalty across the omni-channel landscape.

The Chinese vendor has managed to nab 20% of the market, taking out Apple and Samsung after years of trailing in second or third place.

The growth in Q1 2020 was fuelled by new product launches from market leaders as well as increased perceived utility as people set up offices at home.

Data from Canalys paints a grim picture for the worldwide smartphone industry, with more economic strife to come in Q2.

“Markets [in which] smart speakers are booming saw the most significant year-on-year growth.”

IDC reports the popularity of hearables was behind the unprecedented growth – the headphones and ear pods market captured 55.3% of the entire market.

The research conducted by Gartner also revealed a newcomer for second place in global sales internationally.

While many consumers cannot afford the latest Apple Watch, there is an untapped demand for cheaper smartwatches.

The full-year decline in 2019 represents the third consecutive year of falling shipments.

Shipments of smartphones grew 1% this quarter, despite falling 2% generally in 2019.

Fitbit faltered in Q3 and was the only vendor in the top five not to grow shipments over last year.

Huawei, Samsung, and OPPO increased market share in the third quarter of 2019, while Apple and Xiaomi share declined.

"The market returning to positive growth shows the resilience of the industry as well as the ongoing demand for mobile phones, all in the face of many global macroeconomic challenges."