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> potential contraction in the global smartphone market alongside an increase in average selling prices (ASP). In 2026, in our moderate downside scenario, we could see the market contract by 2.9%. In our pessimistic downside scenario, it could be as bad as 5.2%.

> PC market contract by 4.9% compared with a 2.4% year-on-year decline in the November forecast. Under a more pessimistic scenario, the decline could deepen to 8.9%.



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