‘China to overtake U.S. as largest mobile phone market in 2014’

‘China to overtake U.S. as largest mobile phone market in 2014’

‘China to overtake U.S. as largest mobile phone market in 2014’

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[blockquote right=”pull-right” cite=”Strategy Analytics”]Mobile phone trade revenues will surge 53 percent annually to reach a record US$87 billion this year. In contrast, mobile phone sales in the United States will grow zero percent annually, while trade revenues will increase only 4 percent to US$60 billion in 2014. China will finally overtake the United States for the first time this year to become the world’s largest mobile phone market by value.[/blockquote]

A new research report by Strategy Analytics, a US-based independent research and consulting firm company, says the United States will be overtaken by China to become the world’s largest mobile phone market by value this year.

According to the report, mobile phone sales will reach 430 million units and generate revenues of $87 billion in China during 2014 as against 163 million units that will yield $60 billion in revenues in the United States this year.

Linda Sui, Senior Analyst at Strategy Analytics says, “We forecast mobile phone sales to grow 15 percent annually to reach a record 430 million units in China during 2014. Mobile phone trade revenues will surge 53 percent annually to reach a record US$87 billion this year. In contrast, mobile phone sales in the United States will grow zero percent annually, while trade revenues will increase only 4 percent to US$60 billion in 2014. China will finally overtake the United States for the first time this year to become the world’s largest mobile phone market by value.”

Woody Oh, Senior Analyst at Strategy Analytics added that “China’s impressive mobile growth is being driven by the country’s rapid shift to 3G and 4G smartphones. Major brands, such as Samsung, Huawei and Lenovo, are aggressively expanding their distribution channels and product ranges across the region to meet extremely strong demand from Chinese consumers for more advanced mobile phones.”

Neil Mawston, Executive Director at Strategy Analytics concluded that “The United States is maturing and has now lost its crown to China as the world’s largest mobile phone market by revenue. However, it is important to remember the US remains by far the mobile industry’s most valuable country by profit. High average selling prices for mobile phones and huge operator subsidies from Sprint and others continue to make the US a very profitable market for major device brands such as Apple, Samsung and Alcatel.”

 

 

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Kayode Oladeinde Technology Journalist at Technology Times. Mobile: +234 (0) 7031526929

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