China’s smartphone shipments slumped 23% in Jan-Aug

Smartphone shipment is often seen as the bellwether of China’s consumer spending, and right now, the picture isn’t very rosy.
The world’s largest market for smartphones shipped 175.1 million handsets between January and August, marking a sharp 22.9% decline year-over-year, according to research from a state-backed institution. In August alone, shipments dropped 21.9% year-over-year.
The global smartphone market as a whole is experiencing a slowdown, logging a 9% decline in the second quarter due to a mix of challenges including a COVID-struck economy, inflation, and decelerat

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