Global smartphone value to increase to £344 billion

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Individual shipments are also predicted to increase from 1.3 million to 1.4 million

The value of global smartphone shipments at the end of 2016 is set to increase year-on-year (YoY) from £325 billion to £344 billion.

This is according to GfK’s latest global smartphone forecast published today. Individual smartphone sales will increase from 1.3 million to 1.4 million in the same period.

GfK claimed continuing smartphone demand in China would fuel the drive, with 444.7 million shipments by the end of 2016, a 15 per cent increase from 385.3 million the previous year. It is forecasted to be followed by emerging Asia (211.3 million), North America (191.7 million), Middle East and Africa (171.2 million), Western Europe (133.7 million), Latin America (104.5 million), Central and Eastern Europe (77.3 million) and developed Asia (73.1 million).

The analyst added that sales in Q3 2016 will total £84 billion, an 8.7 per cent rise of 78 billion in the same period the previous year. Shipments are expected to increase from 328.8 million to 353.3 million during the same period.

GfK global director of telecom research Arndt Polifke said: “Smartphone sales growth continued at a steady pace in 3Q16 with year-on-year growth across all regions except North America. Easing macro-economic instability in Latin America resulted in a return to growth in that region, whilst pent up demand in Russia and Ukraine continued to drive Central and Eastern Europe.

“China remained the key global growth driver in 3Q16. However, this trend will change in 2017 when China is forecast to see a decline in demand which will weigh on global growth.”

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