Global smartphone market sinks 22% YoY in Q3

IDC reports smartphone shipments fell 22% year over year to 255.3 million units in Q3, the steepest decline on record. Memory costs have surged about 350% since last year, and IDC expects any recovery no earlier than 2028.

• Smartphone shipments fell 22% YoY to 255.3 million units
• Memory costs have risen roughly 350% since last year
• Samsung and Apple gain share as Xiaomi, OPPO and vivo decline
• IDC sees no market recovery before 2028