Global smartphone shipments are at their lowest level in 14 years

From July to September, retail chains received 20% fewer smartphones from manufacturers compared to the same period last year.

According to preliminary data from Counterpoint Research, this is the lowest figure for this time of year since 2012.

The main reason for the decline is the rising cost and shortage of memory chips. The rapid growth of data centers needed for artificial intelligence has increased demand for chips, driving up the cost of smartphone production.

As a result, companies have raised prices, started releasing fewer models, and shifted their focus toward more expensive devices.

Samsung held onto first place with a 23% share, although its smartphone shipments also fell by 3%. Apple's share grew to 22%, surpassing 20% for the first time in the third quarter of the year, despite the company also shipping fewer devices to the market.

According to Counterpoint's estimates, companies will continue to focus on more expensive models for the rest of the year, while the selection of cheap smartphones will shrink even further.

Source: Investing.com