The downgrade signals challenges for manufacturers like Apple, who already face weakening sales amid escalating geopolitical tensions and tariff disputes.
Despite geopolitical tensions, the U.S. and China are poised to drive a modest 0.6% growth in smartphone shipments this year.
Apple faces a projected 1.9% decline in 2025, challenged by Huawei competition and economic pressures, with many models ineligible for subsidies.
In response to U.S.-China trade tensions, Apple is expanding its manufacturing in India and Vietnam to diversify production and reduce reliance on China.
“Despite these headwinds, India and Vietnam are expected to remain the key alternatives to China for smartphone production. However, additional tariffs of 20-30% on US bound smartphones could post a serious downside risk to the current U.S. market outlook,“ said Nabila Popal, senior research director with IDC’s Worldwide Quarterly Mobile Phone Tracker.
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