Global smartphone market shrank annually for first time in Q1 of FY2016-2017

Global shipments of smartphones shrank 3% in the first quarter from a year earlier in the market's first year-on-year contraction on record, researcher Strategy Analytics said, reflecting growing strains on the industry.

Strategy Analytics said in a statement January-March shipments fell to 334.6 million devices from 345 million in the same period a year earlier, as major markets such as China matured and concerns about the global economy weighed on consumer sentiment.

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