GF Securities: Apple is the only major vendor to grow shipments in 2026

GF Securities analysts Jeff Pu and Henry Huang project Apple will grow shipments 4% to 257 million units in 2026 while the global smartphone market shrinks 14.2% to 1.08 billion. Apple's share is seen rising to 24%. The iPhone Duo build plan was cut from 7 million to 6 million units on hinge constraints, and iPhone 18 Pro to 72 million on adjustable-aperture camera limits.

• Apple 2026 shipments seen up 4% to 257M; Samsung at 241M
• Global smartphone market projected to fall 14.2% to 1.08B units
• iPhone Duo build plan cut from 7M to 6M on hinge constraints
• iPhone 18 Pro/Pro Max plan lowered to 72M on camera limits