Matter of fact, the global market in smartphones plummeted 6% last quarter alone, reports Engadget. Smartphone makers shipped just 355.2 million last quarter, according to numbers from IDC. So why the big decline?
A large part of the blame can be put on Samsung, which controls 20.3% of the global smartphone market. The South Korean company shipped 13.4% fewer phones last quarter. China is also partly to blame, where consumers are tightening their belts amid an economic slowdown. The country is the largest smartphone market.
Then there is also the fact that people aren’t upgrading their smartphones on a yearly basis anymore because they feel the technology isn’t changing rapidly enough to warrant an upgrade. That’s why companies are looking forward to the upcoming rollout of 5G networks, which they hope will spur consumers into buying all-new, 5G-enabled devices.