Could the global smartphone market shrink in 2017?

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Market research firm GfK has published third quarter sales numbers for the smartphone market. Globally, richer regions have been less interested in the pocketables while poorer and developing regions are still quite interested in them. Sales revenues, though, are just a bit more positive.

Global unit sales jumped 7.5 percent year-over-year to 353.3 million while revenues surged nearly 9 percent to US$103.8 billion. North America saw a 1 percent drop in sales while Western Europe only saw a 1 percent gain. Heading growth are China (15 percent), Central and Eastern Europe (10 percent) and Emerging Asia (8 percent), which includes India, Indonesia, Cambodia, Malaysia, the Philippines, Thailand and Vietnam.

gfk-3q16-smartphones

Revenue-wise, while every region — except for North America, which remained flat — posted annual growth, Latin America was tops by far with 31 percent. Central and Eastern Europe followed with 17 percent while third place was a tie between China and Developed Asia at 12 percent.

GfK expects that cumulative figures for the year will rise 6.6 percent over 2015 to 1.4 billion units while on the cash side, US$421.8 billion will be made. That’s a more modest 6 percent gain. And all of these numbers are down from last year.

Furthermore, the firm expects that Chinese demand will collapse in 2017 — worrying speculation on what is the largest smartphone market in the world.

Source: GfK
Via: Engadget

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About The Author
Jules Wang
Jules Wang is News Editor for Pocketnow and one of the hosts of the Pocketnow Weekly Podcast. He came onto the team in 2014 as an intern editing and producing videos and the podcast while he was studying journalism at Emerson College. He graduated the year after and entered into his current position at Pocketnow, full-time.