Smartphone market will return to growth in the current quarter

Smartphone market will return to growth in the current quarter
IDC analysts predict that following a stronger-than-expected third quarter, the global smartphone market will return to growth in the current quarter. IDC forecast smartphone shipments to grow at an annual rate of 2.4% in the fourth quarter. The market growth will continue. It is expected to be 4.4% in 2021. The market recovery will be fueled by a rapid recovery in the supply chain and significant incentives from equipment manufacturers and distribution channels for 5G-enabled models.

IDC expects the global smartphone market to grow annually through 2024 at an average annual growth rate of 1.3%.

Calling 5G the industry's driving force, IDC analysts expect 5g smartphone shipments to account for about 10% of global volume in 2020 and increase to 29% in 2024. A key factor in the implementation is to reduce the cost of devices with 5G support, bringing them closer to models whose capabilities are limited to 4G support. If you go to specific estimates, IDC expects that the average price of a 5G device this year will be 25% lower than last year and will be $ 611, and by 2024 it will decrease to $ 453.
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