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Smartphone Growth in Emerging Markets to Continue in 2019: Counterpoint

Smartphone Growth in Emerging Markets to Continue in 2019: Counterpoint

Emerging markets contribute 59 percent of global smartphone shipments, Counterpoint said.

By Indo-Asian News Service | Updated: 14 June 2019 18:31 IST

Smartphone Growth in Emerging Markets to Continue in 2019: Counterpoint

Samsung Galaxy M40 was recently launched in India

Highlights

The smartphone market globally declined in 2019
Emerging markets will buoy things up, Counterpoint reports
Emerging market growth rate is faster than the global market

The smartphone market, which is still reeling under the first ever annual decline in 2018, is poised to grow in the emerging markets, a new report by Counterpoint Research said on Friday.

Emerging markets contribute 59 percent of global smartphone shipments. Excluding China, they make up 32 percent of the global smartphone market.

"Recently, the International Monetary Fund (IMF) projected that economic growth in emerging markets, during 2019, will be faster (4.7 percent) than developed markets (2.1 percent). This is a good omen for the smartphone market," Tarun Pathak, Associate Director at Counterpoint Research, said in a statement.

According to Counterpoint's Market Outlook, emerging markets excluding China (EMXC) will grow faster (6 percent) than in 2018 (4 percent).

The growth rate continues to be faster than the overall smartphone market, which is likely to see a second successive year of decline in 2019.

"Growth in emerging markets is a positive indicator for certain OEMs looking to expand in these markets," Pathak added.

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