With concerns swirling that the global economy is headed for a recession (or is already in one depending on your favourite economist’s definition), news that global handset vendors are lowering their sales expectations for high-end devices will not come as a big shock.
The slowdown is already being experienced by companies such as Qualcomm, Infineon Technologies and Broadcom who supply chipsets used in those devices.
While high-end phones and smartphones are expected to remain flat or show little growth, demand for mid and low-range devices is expected to grow by double digits as consumers scale back their spending.