Slow demand, Global smartphone shipments drop 20% in third quarter
Landon Capital News
Global smartphone shipments dropped 20% year-over-year in the third quarter to reach their lowest level for that period since 2012, according to preliminary estimates from Counterpoint Research released on Monday.
The decline stems from rising memory chip costs and supply shortages that have increased production expenses and pushed manufacturers to raise retail prices. AI infrastructure projects have absorbed much of the available memory component supply, forcing smartphone makers to reduce shipment volumes and focus on profitability rather than sales volume.
Consumers are keeping their phones for longer periods, showing increased interest in refurbished devices and placing greater emphasis on higher-value products, according to Counterpoint senior analyst Shilpi Jain.
Samsung maintained its position as the market leader with a 23% market share. The company’s shipments fell 3% from the previous year during the quarter. Demand for its Galaxy Z Fold8 series and steady component supplies for mid-range devices supported its market position.
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