Sales slowdown to hurt prospects for smartphone firms

Global sales of smartphones declined in the fourth quarter of 2017 due in part to lagging demand in China, according to two consulting companies.

Citing preliminary data, International Data Corporation (IDC) said on Thursday that smartphone vendors shipped 403.5 million units during the fourth quarter of 2017, a 6.3 percent decline compared to the 430.7 million units from the final quarter of 2016.

Strategy Analytics said on Thursday that global smartphone shipments tumbled 9 percent to 400.2 million units in last year's fourth quarter, down from 438.7 million in the fourth quarter of 2016, the biggest annual decline in history, according to Strategy Analytics.