Smartphone shipments are expected to increase by 2.4% year over year in 4Q20, followed by 4.4% year-over-year growth in 2021, according to a new report issued by the International Data Corporation (IDC) this week.
The report says that the mobile phone industry will recover, following a global slump in sales due to low spending during the pandemic. Also, the market recovery will be driven by a fast supply chain recovery as well as significant incentives from both original equipment manufacturers' and channels on new 5G products.
Meanwhile, the IDC predicts the global market will expand each year through to 2024 with a five-year compound annual growth rate (CAGR) of 1.3%.
Program vice president Ryan Reith added :"Despite concerns around weakness in 5G demand, smartphone volumes exceeded the forecast in 3Q20 and supply-side momentum headed into the holiday quarter and 2021 remains strong.”
Moreover, developed markets including North America, Western Europe, and Japan, are all expected to see year-over-year growth in the holiday quarter driven by strong seasonal promotions and lucrative shopping days such as Cyber Monday.
On the other hand, IDC provided a similar data today as well. The report shows that global smartphone shipments in the third quarter were 353.6 million units; a 1.3% drop from 358.5 million units in the same period last year.
Noteworthy, Samsung continues to rank first with a market share of 22.7%. Huawei ranked second, but its shipments fell 22% to 51.9 million units, with a market share of 14.7%.
In addition, Xiaomi’s shipments in the third quarter increased by 42% year-on-year to 46.5 million units, surpassing Apple to rank third. Apple shipped 41.6 million iPhones in the quarter, down 10.6%. VIVO ranked fifth with shipments of 31.5 million units, an increase of 4.2%.
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