The boom in computing power triggered by the chip technology revolution continues to heat up, with explosive growth in demand for memory chips from hyperscale data centers, leading to tight global supply and rising prices of storage components, and impacting the low-end consumer electronics market. The latest data from Counterpoint Research shows that overall smartphone sales in the U.S. in the second quarter of 2026 declined by 5% year-on-year, with the ultra-low-end smartphone market (priced below $100) being the most affected, experiencing a staggering 64% year-on-year sales plunge.