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Smartphone sales continued their decline in the second quarter, dropping 1.7% from a year earlier, with demand for high-end phones dropping the most.

Expand chart
Reproduced from Gartner; Chart: Axios Visuals

Why it matters: The data, from Gartner, suggests a tough environment as Apple, Google and Samsung all are set to introduce new high-end phones to the market. Samsung just launched its Galaxy Note 10, with Google set to introduce the Pixel 4 and Apple expected to debut a new crop of iPhones in the coming weeks.

A total of 368 million smartphones were sold in the second quarter, down from 374 million, Gartner said. Demand for mid-range and low-end devices was stronger as device makers added more features once found only in premium models.

Samsung and Huawei gained share in the second quarter, while Apple lost share from a year ago.

"To try to boost smartphone replacements, we've seen manufacturers bringing premium features such as multilens front/back cameras, bezel-less displays and large batteries from their flagship smartphones into lower-priced models."
— Gartner research director Anshul Gupta in a statement

Go deeper

3 hours ago - Sports

Unvaccinated athletes face 21-day quarantine at Beijing Olympics

Logos for the 2022 Winter Olympics at Yanqing Ice Festival in February 2021 in Beijing. Photo: Lintao Zhang/Getty Images)

Athletes, staff members and journalists at the 2022 Beijing Olympic and Paralympic Winter Games who have not been vaccinated against the coronavirus will be required to quarantine for three weeks, the International Olympic Committee (IOC) outlined in its newly-published "playbooks."

Why it matters: The quarantine period is longer than the Games themselves, meaning vaccinations or an earlier arrival date will be required to participate in or cover the Games.

Dan Primack, author of Pro Rata
5 hours ago - Economy & Business

FTX CEO predicts more U.S. crypto flight

Photo: "Axios on HBO"

FTX doesn't look much like a company valued at $25 billion. Its new headquarters, located in a sleepy part of The Bahamas, is so nondescript as to not even have a sign. But it does expect to soon have neighbors.

Driving the news: Founder and CEO Sam Bankman-Fried tells "Axios on HBO" to expect "more and more crypto flight from the states" if the U.S. doesn't soon create a regulatory regime for cryptocurrencies.

Developed countries reveal $100 billion climate finance plan ahead of COP26

Alok Sharma, head of the UN Climate Summit in Glasgow, speaks in Paris on Oct. 12. ( Li Yang/China News Service via Getty Images)

After 12 years of fits and starts, industrialized nations on Monday put forward a detailed plan to provide at least $100 billion annually in climate aid to developing countries starting by 2023.

Why it matters: The plan, presented by representatives of Canada and Germany, is aimed at defusing one of the biggest sources of tension at COP26, which is the failure of industrialized nations to follow through on their financial commitments.