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Mobile phones are broadly divided into traditional phones, which are without any smart functions, and smartphones with smart features.
The traditional or feature phones are mainly used by in developing countries with a small share of the population, whereas demand for advanced smartphones is constantly rising.
The global handset market size is growing due to rapid advancements in mobile phones. Users are always on the look for more advanced features. One of the key driving factors is the introduction of 5G. All leading handset manufacturers such as Samsung, Oppo, and Xiaomi introduced their 5G compatible phones.
Apple is lagging behind in the 5G race as its smartphone with 5G compatibility is still not ready. Recently the specs and design of its upcoming iPhone 12 were leaked, showing that the new handset is equipped with Qualcomm Snapdragon chipset solution for 5G compatibility. Despite their disputes, Qualcomm has still managed to secure a deal for it chipset in the iPhone 12.
The increase in the use of e-commerce has also provided excellent support to the mobile phone market, as most of the people increasingly buying online. The COVID-19 pandemic has further underpinned the online buying trend as highstreet shops remained closed.
Some of the threats to mobile phone market include the trend towards advance smart wearables, various security threats, less adoption in business use, market saturation in various developed countries, and increase in cost with the addition of more advance features.
Some of the top players in the mobile phone market include Apple, Samsung, Nokia, LG, Sony, Oppo, Huawei, Motorola, Xiaomi, BlackBerry, VIVO, Lava, Toshiba, and HTC.
Although online stores provide a good opportunity to get smartphones, the global market of mobile phones will still see a decline in 2020, due to delivery issues and factory closures.
There are still people with a typical mindset regarding online stores.
It is expected that the usage of mobile phones dropped during the pandemic, as more people used laptops and tablets for office work and entertainment.