Global smartphone market hits 14-year low

A recent report from Counterpoint Research reveals that global smartphone shipments plummeted by 20 percent year-over-year in the third quarter of 2026, marking the lowest levels recorded since 2012. Analysts attribute this sharp decline primarily to surging memory costs, which have forced manufacturers like Apple and Samsung to raise retail prices by 20 percent. Consequently, consumers are holding onto their existing devices for longer periods. Despite the overall market downturn, both Samsung and Apple managed to increase their market share. Samsung benefited from steady demand for its mid-range Galaxy A-series and premium foldable devices, while Apple’s performance was impacted by the delayed launch of its base iPhone 18 model. The industry continues to face significant pressure as rising costs reshape consumer purchasing habits and manufacturer strategies in an increasingly saturated market.