Growing R &D spending by key smartphone manufacturer is expected to foster growth of the smartphone market

 

Smartphone Market

Growing disposable income around the globe is driving the growth of the smartphone market. Moreover, increasing investment by manufacturers in R&D is again projected to foster the growth of the market. Increasing purchasing of electronic devices such as smartphones, laptops, tablets, and gaming consoles is again expected to foster the growth of the market. Moreover, smartphone manufacturers are investing in the development and production of their own application processor (AP) which is also expected to accelerate the growth of the market. Furthermore, the growing use of long-term Evolution (LTE) is further projected to augment the growth of the market. Additionally, the advent of 4G services across various economies is estimated to provide lucrative opportunities to the key players of the smartphone.

Major players engaged in the global smartphone market are Samsung Electronics Co., Ltd., Apple Inc., Lenovo Group Limited, Vivo Communication Technology Co. Ltd, ZTE Corporation, TCL Communication Technology Holdings Limited, Huawei Technologies Co., Ltd., and LG Electronics Inc.

The Asia Pacific is expected to hold a dominant position in the global smartphone market and this is attributed to the increasing usage of smartphones in the region. According to the India Brand Equity Foundation, at present, India is the world’s second-largest telecommunications market with a subscriber base of 1.16 billion and has registered strong growth in the last decade. The Indian mobile economy is growing rapidly and will contribute substantially to India’s Gross Domestic Product (GDP) according to a report prepared by GSM Association (GSMA) in collaboration with Boston Consulting Group (BCG). In 2019, India surpassed the US to become the second-largest market in terms of a number of app downloads.

In March 2021, OnePlus has launched new smartphone series. The series is expected to include the OnePlus 9, the OnePlus 9 Pro, and lastly, the OnePlus 9R or the OnePlus 9E

A smartphone is basically a portable electronic device that combines computer and mobile phone functions into one compact unit. Smartphones have become the most popular gadget available in the market today that offers amazing features and applications, multimedia content, games, communication, and Internet browsing facilities. The demand for Smartphones has increased with each passing day as more people depend on their mobile phones to make their day-to-day work simple and easy. Smartphone operating systems include Symbian OS, Windows CE, and Wapitan. These operating systems are the most commonly used operating system for Smartphones, which provide the users with rich user interfaces with superb web browsing facilities. Smartphones are also available with different storage space, memory size, CPU speed, and battery life


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