Core Viewpoint - Nomura's research report anticipates a potential decline of 0% to 7% in global smartphone shipments by 2026, primarily due to rising memory costs that may increase retail prices and suppress market demand [1] Industry Summary - The report highlights that some smartphone manufacturers are struggling to secure sufficient memory supply, which could ultimately lead to a reduction in shipments for 2026 [1] Company Summary - Nomura downgraded Sunny Optical's rating from "Buy" to "Neutral," significantly reducing the target price from HKD 102 to HKD 60 due to the challenges in the supply of non-core smartphone components [1] - The rating for Q Technology was downgraded from "Buy" to "Reduce," with the target price raised from HKD 5 to HKD 7.1, reflecting an upward adjustment in earnings forecasts due to gains from the disposal of its Indian branch [1]

Core Insights - Canalys reports a 9% decline in smartphone shipments in Europe (excluding Russia) for Q2 2025, totaling 28.7 million units, making it the worst-performing region globally for this quarter [1] Market Performance - The decline in shipments is attributed to cautious consumer spending and limited economic outlook, which continue to suppress demand in the European smartphone market [1]

Core Insights - The global smartphone market is projected to decline by 1% year-on-year in Q2 2025, marking the first drop in six consecutive quarters [1] Company Performance - Samsung maintained its market leadership with a 19% market share, driven by the success of its Galaxy A series [1] - Apple ranked second with a 16% market share [1] - Xiaomi showed stable performance, capturing 15% of the market share [1] - Transsion and OPPO secured the top five positions with 9% market share each [1]

Core Insights - The global smartphone market is projected to decline by 1% year-on-year in Q2 2025, marking the first drop in six consecutive quarters [1] Industry Summary - The decline in smartphone shipments indicates a potential shift in market dynamics and consumer demand trends [1]