Global smartphone market to shrink by 14 percent in 2026, companies cutting budget phone production
Global smartphone market to shrink by 14 percent in 2026, companies cutting budget phone production The global smartphone market is projected to shrink by 14.3 percent in 2026. Market research firm Counterpoint Research has said that smartphone demand will be affected by a shortage of memory chips , rising component prices and declining consumer purchasing power . According to Counterpoint's latest Smartphone Market Outlook Tracker , global smartphone shipments will decline by 14.3 percent in 2026. The market decline is expected to continue until 2027. Shipments are expected to decline by another 1.4 percent next year. After that, the market is projected to improve from 2028. Memory chip shortage is the main problem The main reason for the decline in the smartphone market is the pressure on the supply chain and the rising cost of components. In particular, the supply of mobile memory has become the biggest challenge, according to Counterpoint's analysis. With the increasing ...