An anonymous reader shares a report: The global smartphone market is splitting into two distinct segments, with the mid-range segment seeing its market share plummet from 35% in 2021 to a projected 23% by 2027, according to an analysis of data compiled by Goldman Sachs.

The collapse of the mid-range segment -- $200-600 -- marks a stark reversal from 2021-22, when it held a steady 35% market share.

"While mid-end segment used to provide balance between outstanding specifications and high performance-cost ratio, the demand has been declining due to the lack of revolutionary technology upgrades and a more conservative consumption of middle class amid macro challenges," the analysts wrote in a note reviewed by India Dispatch.

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