Seoul, July 14 -- Samsung Electronics reclaimed the top spot from archrival Apple in the global smartphone market in the second quarter, as industrywide shipments fell to their lowest level for the period since 2013 amid a memory supply crunch. Soaring memory prices squeezed both manufacturers and consumers during the period, shifting the dynamics among the world's largest tech brands.

According to a news report by The Korea Herald, the broader market contracted sharply as global smartphone shipments fell 11 per cent on-year. Citing market tracker Counterpoint Research, the news report attributed the decline to shortages of DRAM and NAND flash, which occurred as chipmakers prioritized surging demand from artificial intelligence data cent...