Smartphone Market Research Report- Forecast Till 2025 and Q2 2021 Analysis
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The Smartphone Market is estimated to grow from $520.3B in 2018 to USD 2297.8B by 2025, at a CAGR* of 16.4percent, during the forecast period. A smartphone is a cellular phone equipped with integrated computers and other features involving operating systems and web browsing. Although the maximum use of smartphones is due to high disposable income in developing countries, other factors involve high ownership of premium design smartphones and the latest internet connectivity.
While the market leaders have been increasing their revenues by launching new phones with an increased frequency every month, the maturity state in a few regions might be challenging. For example, in April 2020, Apple launched the second-generation iPhone SE. The launch added a new iPhone model into Apple’s iPhone lineup, but due to lockdown restrictions, the company faced a challenge to recover the production cost; as a result, the US Apple failed to maximize their revenues from that product.
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