Global smartphone market to shrink in 2019: TrendForce report

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

By: INDO ASIAN NEWS SERVICE
| Updated on: Jan 15 2019, 16:34 IST
Replacement demand is likely to slacken this year due to a lack of devices with landmark functions
Replacement demand is likely to slacken this year due to a lack of devices with landmark functions (Getty Images/iStockphoto)

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.

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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.

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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.

Samsung plans to roll out its Galaxy M mid-range and low-end smartphones in India at the end of this month and unveil its Galaxy S10 flagship smartphone and foldable smartphone in San Francisco next month in a bid to create new demand and outperform Chinese rivals.

 

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First Published Date: 15 Jan, 16:34 IST
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