Global smartphone market is expected to grow 13.9% year over year in the first quarter of 2021 and 5.5% for the full year 2021, according to a latest report by IDC.
The report claims that this growth will be driven by continued recovery in demand along with a supply-side push of 5G devices.
“Despite ongoing lockdowns and economic concerns, IDC continues to see strong demand for smartphones. We are also seeing that everyone in the value chain — from supply chains, OEMs, and channels to consumers — is better prepared to handle any further lockdowns,” said Nabila Popal, research director with IDC’s Worldwide Mobile Device Trackers.
The two largest geographic markets — China and US — are forecast to grow by 6.0% and 3.5% in 2021, according to the report.
The report made a special mention of the Apple iPhone 12 lineup and said that the 5G push was accelerated by the success of Apple’s full 5G iPhone 12 line up.
IDC expects 5G smartphone shipments to account for more than 40% of global volume in 2021 and grow to 69% in 2025.
The market has also seen an increase in the overall average selling price (ASP) for smartphones to $363 in 2021, up from $349 in IDC’s previous forecast.
Source: Click Here