Global Smartphone Shipments Plunge 22% in Q3 as Xiaomi Volumes Tumble

Key Facts

1Global smartphone shipments fell 22% in Q3 to 251 million units, down from 320 million a year earlier.

2Xiaomi shipments plunged to 25 million units in Q3 from 44 million in the same quarter last year.

3Soaring memory chip costs forced manufacturers to scrap budget models and focus on premium segments.

Global smartphone shipments fell 22% in the third quarter to 251 million units, down from 320 million units a year earlier. Reuters reported via ZeroHedge that Xiaomi shipments plunged to 25 million units during the period, a significant drop from the 44 million units recorded in the same quarter last year.

Soaring memory chip costs forced manufacturers to scrap budget models and prioritize premium segments as margins for entry-level devices tightened. In equity markets, XIACF closed at $3.13 on October 12, 2026, having traded between a low of $3.11 and a high of $3.15 during that session.