Smartphone component stocks are leading the decline in Hong Kong stocks. As of press time, FIH (02038) fell 8.57% to HK$17.17, COWELL (01415) dropped 5.28% to HK$20.08, LENS (06613) decreased 5.56% to HK$20.04, and Q TECH (01478) declined 4.85% to HK$6.67.

On the news front, Qualcomm has announced it will raise processor prices starting September 1. The company's CEO confirmed during the latest earnings conference call that product prices will increase at that time. Earlier market reports indicated that the price adjustment could be in the double-digit percentage range.

Additionally, the China Academy of Information and Communications Technology (CAICT) released its June report on the domestic mobile phone market. Data from the report shows that mobile phone shipments in China reached 19.149 million units in June, a year-on-year decline of 15.3%. The monthly market experienced a significant downturn, with the domestic mobile phone market still under pressure from inventory competition. In the first six months of the year, domestic mobile phone shipments totaled 133 million units, down 5.5% year-on-year.