Global smartphone shipments fall 20% in Q3 2026 to 254.7 million units, lowest since 2013

The weakness is concentrated where affordability matters most: emerging-market demand is bending under higher prices, while the share leaders hold up better than the Chinese vendors posting sharp declines. That divergence suggests this is less a broad consumer retreat than a squeeze on price-sensitive buyers and the vendors most exposed to them. Omdia's forecast of a slower contraction in 2027 implies cost pressures are being treated as structural rather than cyclical — whether that easing actually materializes, and whether the mid-tier vendors stabilize first, is the open question.