According to the analyst, nearly 350 million devices were sold in the second quarter of this year driven by growth in emerging markets
Global analysts GfK has reported that global demand for smartphones peaked in the second quarter of this year, with 346.9 million devices sold.
Emerging markets such as Central and Eastern Europe and Emerging Asia lead the year-on-year growth with 11 per cent and 13 per cent respectively.
The high demand equates to $109.2 billion (£83.9 bn), a nine per cent increase on last year with China alone accounting for $35.1 bn (£26.9) of the grand total.
Once again, the emerging markets grew the most with emerging asia spending 30 per cent more than the $7.9 billion (£6 bn) that was seen in 2016 and Central and Eastern Europe growing 24 per cent on the $3.7 (£2.8 bn) spend on devices on 2016.
GfK global director of telecom research Arndt Polifke said: “The record demand for smartphones int he second quarter this year shows that, despite saturation in some markets, the desire to own a smartphone is a worldwide phenomenon.
“How that manifests itself differs widely by region but manufacturers are maximising all their creativity to ensure their latest devices are irresistible.”