Global smartphone shipments hit a 14-year low

Counterpoint Research reports that global smartphone shipments have declined by 20% compared to the same period last year, marking the lowest third-quarter performance in 14 years. The downturn is largely attributed to an ongoing RAM crisis, which has caused component shortages and increased retail prices. However, the report suggests that market stagnation is also driven by shifting consumer behavior, as users are holding onto their devices for longer periods. While lower-end devices have become more capable, high-end flagship phones are struggling to offer significant enough upgrades to justify frequent replacements. Despite the overall industry decline, major players like Apple and Samsung have managed to increase their market share, reaching 22% and 23% respectively. Other manufacturers, including Xiaomi, Oppo, and Vivo, have faced sharper declines, indicating a challenging landscape for the broader smartphone market as it navigates both supply chain constraints and changing consumer demand.