This year, the global smartphone industry is predicted to increase at its fastest rate since 2015. Shipments are expected to exceed 1.38 billion units this year, up 7.7% from the previous year.
According to an IDC analysis, the good trend is likely to continue into the following year, with a year-over-year increase of 3.8 percent. A total of 1.43 billion units are expected to be shipped throughout this time period.
Global Smartphone Growth In 2021
According to the survey, this comes as the globe transitions to 5G networking and 5G equipped devices, while simultaneously maintaining robust demand for cheap and mid-range 4G smartphones following last year’s pandemic, which resulted in a drop in sales.
According to Anthony Scarsella, research manager at IDC, “the market will see the highest year-over-year increase since 2015 in 2021, as the migration to 5G across all pricing tiers continues to accelerate.”
When compared to the rest of the projection period, the 5G transition will produce peak smartphone ASPs in 2021 ($376, up 9.7% year over year) as expensive 5G smartphones continue to replace LTE devices, which are also continuing to plummet in price, down 27% in 2021.”
“Smartphones are witnessing competition for consumer spending from adjacent industries like PCs, tablets, TVs, and smart home devices, but that hasn’t hampered the market’s road to recovery,” said Ryan Reith, program vice president at IDC.
The smartphone market began to rise again during the Christmas quarter of last year, and we’ve only seen leading vendors boost up manufacturing since then. As a result of the significant supply-side drive toward 5G, price points are continuing to fall.”
Also Read:
- Google announces new partnership with Shopify to boost e-commerce
- Facebook agrees with people calling Coronavirus ‘Man-Made’, will no longer ban such posts
- Speculations over the Nintendo Switch Pro spins out a flurry of Memes and Jokes on Twitter
- Twitter fined 19 mn roubles by Russia over non-compliance
- Cathie Wood attributes recent crypto crash to Elon Musk and ESG movement
- Microsoft is finally updating Outlook with the ‘Biggest Change’ in shared Calendars
- Instagram enables option to ‘Hide Like Count’ for all users
- Amazon prepares to acquire MGM Studios for USD 8.45 billion
- Florida sued over order preventing Twitter, FB’s censorship
- Google faces lawsuit by female staff over pay disparity
