IDC Cuts 2016 Outlook for Global Smartphone Shipments $QQQ

Research firm International Data Corp. slashed its forecast for 2016 global smartphone shipments growth on weakened demand trends in mature markets and China, as well as its expectations that Apple Inc.’s annual iPhone volume will drop for the first time.

IDC now expects global smartphone volume to increase 3.1% to 1.48 billion units this year, compared with its March projection for an increase of 5.7% to 1.5 billion units.

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