New Delhi, May 30 -- International Data Corporation (IDC) has cut down its global smartphone shipment growth forecast to 0.6% from 2.3% citing high uncertainty, tariff volatility and macro-economic challenges like inflation and unemployment across various regions. IDC further predicts that growth will remain in the low single digits throughout the forecast period and a five year (2024-2029) compound annual growth rate (CAGR) of 1.4% owing to increasing smartphone penetration, lengthening refresh cycles, and cannibalization from used smartphones.

Speaking about the impact of US President Donald Trump's so called reciprocal tariffs on the smartphone industry, Nabila Popal, senior research director at IDC's Worldwide Quarterly Mobile Phone ...