According to the latest report from Counterpoint Research, the global smartphone market is currently experiencing substantial shifts. It is predicted that smartphone shipments will decline by 13.9% year-on-year in 2026, reaching around 1.08 billion units. This figure represents the lowest level since 2013. Notably, this projected decrease exceeds the 12.4% decline that was forecasted back in February. The memory supply crisis and geopolitical conflicts stand out as the main catalysts for this downturn. These factors have resulted in a reduction of over 40% in the supply of LPDDR4, a crucial component in smartphones. Consequently, prices for this component are expected to soar threefold. What's more, supply constraints are likely to persist until the second half of 2027. When it comes to brand performance, there is a clear divergence. Huawei emerges as the sole Chinese brand projected to experience growth. In contrast, other well-known Chinese brands like Xiaomi and Transsion are expected to face significant declines. As the market landscape changes, industry consolidation is picking up pace. The second-hand and refurbished smartphone market is anticipated to expand by 13%. Looking ahead, there is a glimmer of hope as the market is expected to rebound by 2028.