Xiaomi, Transsion cut 2026 phone targets

Chinese smartphone makers are slashing 2026 shipment targets as a global memory shortage squeezes supply chains. Xiaomi reduced its forecast by up to 70 million units and Transsion by 30–45 million, sources said. The cutbacks follow rising chip prices as Samsung, SK Hynix, and Micron divert capacity to AI demand, weighing heavily on the handset sector.