Global smartphone shipments drop 20% in third quarter

Global smartphone shipments fell 20% year over year in the third quarter to their lowest level for that period since 2012, according to preliminary Counterpoint Research estimates. The drop stems from rising memory chip costs and supply shortages, as AI infrastructure projects absorb much of the memory supply, leading manufacturers to raise prices and prioritize profit over volume. Consumers are keeping phones longer and showing more interest in refurbished devices, according to Counterpoint's Shilpi Jain. Samsung kept the top spot with a 23% share even as its shipments fell 3%, while Apple took 22%, its first time above 20% in a third quarter despite a year-over-year decline. Xiaomi's shipments dropped more than 30%, cutting its share to 10%, as it reduced lower-priced devices and some overseas markets to protect margins.

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