Global Smartphone Shipments Plunge 20% in Q3 Amid Memory Shortages and Rising Costs

Global smartphone shipments recorded a 20% year-over-year decline in the third quarter, marking the lowest third-quarter performance in 14 years. This significant drop is attributed to escalating memory chip costs and supply shortages, largely due to increased demand from AI infrastructure projects. Manufacturers are responding by increasing retail prices, reducing shipments, and prioritizing profitability over volume.