Hong Kong stocks in flux | Mobile industry chain under pressure across the board; Memory price hikes impact consumer electronics; Citi downgrades global smartphone shipment forecast

LootboxPhobia · 2026-03-13T08:40:25+00:00

The smartphone industry chain is under pressure, with multiple companies' stock prices declining. Citigroup has lowered its global smartphone shipment forecast, expecting shipments to drop to 1.04 billion units in 2023. The report points out that inflation and memory shortages are impacting demand, with shipments expected to increase year-over-year to 1.25 billion units by 2028.

LootboxPhobia

2026-03-13 08:40:25

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CITIC Financial APP learned that the entire mobile phone industry chain is under pressure. As of the time of publication, BYD Electronics (00285) fell 4.97% to HKD 30.18; FIH Group (02038) dropped 3.15% to HKD 20.9; Lens Technology (06613) declined 2.85% to HKD 22.5; Goertek (01415) decreased 2.19% to HKD 25.02.

On the news front, Citigroup released a research report lowering its global smartphone shipment forecasts for this year and next to 1.04 billion and 1.17 billion units, respectively, representing a 17% decrease and a 12% increase year-on-year. It also predicts that by 2028, shipments will increase by 7% year-on-year to 1.25 billion units. The forecasts are based on memory shortages and rising prices, as well as demand weakness caused by rising inflation, with average selling price increases of 7%, 2%, and 3%, respectively.

The report states that IDC announced last year’s Q4 smartphone shipments were 5% higher than its expectations, mainly driven by the China, Eastern Europe, Middle East, Africa, and the Americas regions. Last year’s foldable phone shipments were roughly in line with expectations. The firm remains optimistic about the 29 million and 45 million units forecasted for this year and next, driven by iPhone foldable devices.

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