Smartphones will register volume growth over the forecast period, but it will be lower than over the review period, as a degree of maturity sets in. In addition, with consumers investing in more premium phones with longer battery cycles, this will extend the life span of smartphones, and will dampen volume sales as a result.
The second-hand market will continue to see healthy growth and will dampen volume sales of smartphones to an extent. Also, as technological advances slow, consumers will be happy to buy second-phones that offer much the same functions as a new model.
There will continue to a degree of premiumisation of smartphones over the forecast period, with constant value registering higher growth than volume sales. With retail prices of all mobile phone increasing, the price gap between entry-level and more premium phones is narrowing, and therefore consumers will be more inclined to purchase more upmarket phones.
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Any device capable of telecommunication over a cellular network of base stations. Mobile phones can come with functions including camera, video and internet access.See All of Our Definitions
This report originates from Passport, our Mobile Phones research and analysis database.
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