Overview:
MEA smartphone shipments declined 11% YoY in Q3 2024 largely due to a high Q3 2023 comparison base when economic recovery had begun. Geopolitical uncertainties in the Middle East also contributed to the decline. Additionally, there was some inventory build-up from the last quarter due to a muted Ramadan season, which kept OEMs cautious. However, OEM activity remains high, with increasing competition and the return of Chinese OEMs.