Memory chip shortages pushed prices higher and weighed most heavily on Xiaomi, Oppo and Vivo, marking a sharp contraction in the handset market.
Global smartphone shipments fell 11% in Q2, dropping to their lowest level since 2013. The decline came as memory chip shortages lifted prices and hit Xiaomi, Oppo and Vivo hardest, underscoring how component supply constraints can quickly curb device demand and pressure major handset makers.