Smartphone shipments plummet as memory crisis pumps up prices

Smartphone shipments fell by at least a fifth in the third calendar quarter as the AI-driven memory crunch battered another consumer hardware market. Preliminary estimates from IDC and Omdia put the year-on-year decline at 22 percent and 20 percent respectively. Memory costs have surged by approximately 350 percent since last year, according to IDC, and are still rising.