Omdia: Global smartphone shipments rise 1% in Q1, inventory overhang looms

• Omdia estimated global smartphone shipments rose 1% year on year to 298 million units in 1Q26, beating earlier expectations on vendor front-loading ahead of higher memory and component costs.
• Channel sell-in outpaced consumer sell-out as persistent inflation squeezed discretionary spending, setting up an inventory correction in 2Q26.
• Samsung kept No. 1 position with 65 million units shipped, up 8% year on year.
• Apple shipments increased 10% to 60 million units, supported by iPhone 17 series demand.
• Omdia flagged downside risk for 2H26 as inventory normalization meets weaker demand, with replacement cycles expected to extend in mid-to-premium segments.

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