Can Asian smartphone underdogs rival the industry giants?
It’s hard to believe that Simon, the world’s first smartphone was invented in 1992. The word “smartphone” wasn’t invented until 1995, yet incredibly enough, today, 2.5 billion people own one. That number is a testament to the success of the fiercely competitive smartphone industry. The billions who still don’t a smartphone are providing ample incentive for the phone market to get even more fiercely competitive.
Industry giants like Samsung and Apple continue to dominate the market. In 2015, Samsung sold 322 million phones, capturing 22.4% of the global market, while Apple sold 231.4 million phones, capturing 16.1%. Combined, these two succeeded in reaching 38.5% of the entire global market.