Global smartphone market to shrink in 2019: TrendForce report

Global smartphone market,smartphone market, TrendForce report

The global smartphone market is expected to shrink further in 2019 due to weaker demand and other unfavourable factors, a report said on Tuesday.

Global smartphone production is expected to reach 1.41 billion units this year, down 3.3 % from the previous year, according to the report from TrendForce, a leading market intelligence provider.

Replacement demand is likely to slacken this year due to a lack of devices with landmark functions, TrendForce said, adding global smartphone output could drop as much as 5 % on-year due to the uncertainty and fallout from the ongoing trade war between the US and China, Yonhap news agency reported.

Samsung Electronics Co is projected to grab the leading market share of 20 % this year, followed by Huawei with 16 % and Apple Inc with 13 %.

Among the top three industry players, Huawei will likely become the only company to post positive growth in smartphone production.

Samsung’s smartphone output is predicted to shrink 8 % on-year to 293 million units, with Apple’s production likely to fall 15 % to 189 million.

Earlier, another industry tracker, Strategy Analytics, predicted global smartphone shipments to come to 1.43 billion this year, down 0.6 % from a year earlier.

Strategy Analytics forecast a market share of 20.3 % for Samsung, 16.1 % for Huawei and 14.4 % for Apple.

TrendForce said Samsung will likely take a more aggressive strategy in terms of price and specifications as the company finds it hard to tap new business areas.

[“source-“hindustantimes”]