"More Pain To Come": Global Smartphone Shipments Plunge As Memory Crisis Crushes Budget Models

"More Pain To Come": Global Smartphone Shipments Plunge As Memory Crisis Crushes Budget Models Global smartphone shipments tumbled 22% in the third quarter as soaring memory chip costs forced handset manufacturers to scrap lower-priced models and focus on premium models, delaying purchases for working-class consumers, according to a new note by Loop Capital Markets. Loop Capital analyst John Donovan wrote early Tuesday that handset shipments totaled 251 million units in the quarter, down from 320 million a year earlier. The decline accelerated from 3% in the first quarter and 7% in...