Smartphones have been around in various forms since the 1990s, but their popularity soared with Apple’s iPhone launch in January 2007.
Today, about 55% of adults in the U.S. own a smartphone, compared with 37% in China, 21% in Mexico and 11% in Indonesia, according to Pew Research Center. That still leaves plenty of opportunity for sales, but the breakneck rate of purchases appears to be slowing.
While global smartphone sales in 2013 were up by 39%, they’re expected to grow only about 19% in 2014, 8% in 2017 and 6% in 2018.
Brands have to engage customers
As organic growth of the smartphone industry comes to an end in the next 5 years, brands like Apple, Samsung & Nokia will have to focus on engaging customers to stay relevant instead of relying on the industry growth machine.
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