A global memory component crisis has pushed second-quarter smartphone shipments to their lowest level since 2013, according to a report from Counterpoint.
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STORY: Global smartphone shipments fell 11% in the second quarter to their lowest level for the period since 2013.That's according to early estimates from Counterpoint Research, which said a memory chip shortage has driven up smartphone prices and dampened demand.Memory chip prices have soared as suppliers prioritize AI data center customers over consumer electronics, forcing smartphone makers to pass along higher costs through price hikes, particularly for entry- and mid-range devices.Among the world's top five smartphone companies, mid-tier firms Xiaomi, Oppo and Vivo posted the steepest declines.Apple and Samsung, however, bucked the downward trend.:: SamsungSamsung reclaimed the top spot with a 24% share of the smartphone market, while Apple took its global market share to a record 20% in the quarter.And while the memory chip shortage has hurt many smartphone makers, it has helped the chip's suppliers.South Korea's SK Hynix, one of the largest memory chip makers, debuted on the Nasdaq last Friday after its shares in South Korea rose more than sevenfold over the past 12 months.:: MicronMeanwhile, shares of its American rival Micron Technology soared nearly 650% over the past year.That's made many investors bullish on both stocks, says Ross Mayfield, investment strategist at Baird Private Wealth Management."The reality is the demand for memory is so large and so bottlenecked that both companies are in tremendous positions, have tremendous margins, tremendous pricing power. And while there are slight differences, you could really take or pick either and probably be very satisfied over the coming year or two as an investor."But the investor euphoria cooled on Monday as shares of Samsung, SK Hynix and Micron all tumbled amid a broader market selloff.
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