Smartphone makers around the world have seen a slowdown in revenue growth in the third quarter as consumers tighten spending to weather the ongoing economic downturn. In the third quarter of 2022, smartphone firms’ revenue was down 3% from last year and shipments fell 12%, according to Counterpoint. Apple bucked the downward trend by growing 10% in a year, thanks to its iPhone 14 series. The firm kept its top market position and expanded its market share from 37% to 42%. Samsung followed in second place, slightly growing its revenue by 2% and remaining flat in market share. Xiaomi ranked third, growing 4%. Oppo and Vivo, ranking fourth and fifth, saw drastic declines due to weak demand in Covid-stricken China. Oppo saw a 27% yearly decline, while Vivo took a 43% hit. [Counterpoint]