Global Smartphone Shipments Hit 14-Year Low

Global smartphone shipments have plummeted by 20% this quarter compared to last year, marking the lowest third-quarter performance in 14 years, according to a recent report by Counterpoint Research.

Smartphone Shipments Plummeted

This low shipment number is heavily driven by the ongoing “RAM crisis.” Severe component shortages have disrupted manufacturing supply chains and driven up retail prices, making device upgrades far less affordable and appealing to consumers.

However, rising hardware costs are only part of the story. The reports also state that buyers are holding onto their existing devices much longer than expected. Today’s smartphones, even budget models, are highly capable and run smoothly for years. At the same time, top-tier phones offer fewer revolutionary changes, as current flagships already boast more processing power, advanced cameras, and high-quality displays than most users need. With less incentive to upgrade, consumer behavior is shifting.

Despite the slump, tech giants Samsung and Apple have proven resilient, increasing their overall market dominance. Samsung expanded its market share to 23%, fueled by the success of the Galaxy Z Fold 8, even amidst a 3% drop in shipments. Apple closely follows with a 22% share. Moreover, brands like Xiaomi, OPPO, and Vivo have experienced sharp declines.

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