Smartphone market to show weak growth in 2018

February 15, 2018 //By Peter Clarke
Smartphone market to show weak growth in 2018
Demand for smartphones is reducing as the market reaches saturation and additional features fail to ignite consumer appetites for upgrades, according to market analyst TrendForce.

The annual smartphone market will be about 1.5 billion units in 2018, up 2.8 percent on 2017. The distribution of market share among the major players is expected to remain about the same as last year, TrendForce said.

TrendForce reckons that in the second half of 2017 major smartphone companies emphasized their all-screen models to stimulate replacement purchases but that it did not succeed leaving them with excessive inventory. As a result, production of smartphones has been cut for 2018. Of the major brands TrendForce said Apple and Nokia are the only smartphone companies that have a clear path to growth in 2018.

Top six smartphone vendors ranked by market share in 2018. Source: TrendForce.

Market leader Samsung's smartphone production volume is expected to be 300 million units in 2018, a decrease of 5 percent YoY. Apple's annual producton of iPhones is expected to increase by 6 percent in 2018 due to new iPhone arrivals with higher specifications and expansion in the Indian market.

LG reduce production because of its decision to pull out of the Chinese market but could still be seventh in global smartphone market this year, with an expected production of 60 million units. Nokia's partnership with HMD and FIH Mobile recorded a production volume of 11.5 million units in 2017. Nokia's annual production volume for 2018 is estimated to grow by more than 70% and could exceed 20 million units.

Huawei will have a chance to register a production volume of more than 173 million units for 2018, taking a market share of 11.6%.

Related links and articles:

www.trendforce.com

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