At its peak in 2017, the global smartphone market saw more than 700 brands fiercely competing. Fast forward to 2023 and the number of active brands (that have recorded sell-through volumes) is down by two-thirds to almost 250. A maturing user base, improving device quality, longer replacement cycles, economic headwinds, supply-chain bottlenecks and major technological transitions such as 4G to 5G have gradually whittled down the number of active brands and their volumes over the years. In this report, we analyse the reasons behind the decline of local brands and their presence across regions and is accompanied by a case study on the Indian market, one of the biggest smartphone markets globally. We conclude with our expectations going forward and local brands to watch out for.
Table of Contents:
- Analyzing the decline of local brands
- Case Study: India Smartphone Market: 2017-2023
Number of Pages: 18
Published Date: November 2023
WATCH: Smartphone Market Consolidation: Nearly 500 Brands Exited Between 2017-2023
Watch our Research Director Tom Kang explain the changing dynamics of the smartphone market and how local brands are facing increasing challenges to stay relevant.