It seems like the booming business of smartphone industry is slowing changing to what people did not expect. Gartner, which is an analyst company, stated that there will be a major drop in the smartphone industry from 14.4 growth in 2015 to only 7 percent in 2016. This is the case amidst having 1.5 billion units being shipped globally in 2016 alone.
The highest ever percentage in smartphone growth was recorded in 2010, when the company saw the market grow 73 percent. No other year has been able to top up the percentage in all these years.
The signs of having a slowdown in the overall smartphone market has been clear for over a year now. With many markets now being saturated, many brands are looking to expand their businesses from their home country. The best market for many brands had been China, but now the demand is also topped out. There have been incentives from manufacturers who try to attract more customers by offering the to upgrade their devices early.
The smartphone markets have been affected by the average lifetime of the phones. Many of them have an average lifetime of 2.5 years while the basic mobiles can last for three years and up. In some markets, there has been a growth of feature phones rather than the smartphones. This means that most of the smartphones might be in a price range out of what many people would want to spend.
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