The clue to what comes next is a small aluminium box Apple announced this week with no keynote at all.
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NielsenIQ data shows smartphone sales falling as buyers hold onto handsets and trade down as prices tick higher.
Samsung has forecasted record operating profit as demand for AI sends memory chip prices sharply higher worldwide.
Widespread Chinese lockdowns have begun to exact a toll on global supply chains. Even Apple has been unable to avoid the ructions.
Huawei Technologies’ global smartphone market share is expected to fall to just 4% in 2021, a precipitous drop for the company that earlier this year ranked as the world leader in shipments.