How to spot the tech industry’s new gold rush
The boom in smartphone and tablet shipments is fueling a surge in the supply of the technology that powers the devices.
But in a big way.
The growth of smartphone and other mobile computing devices is now outpacing the demand for computer hardware, according to a new report from a leading consumer research firm.
The report, which surveyed more than 3,000 retail and service customers and is the most comprehensive look yet at smartphone sales, found that the industry’s market share of smartphone shipments in 2016 hit a record high of 19.1% as more than 70% of the smartphone and tablets sold were sold in China, followed by the United States with 6.3%.
The surge in smartphone sales in the United Kingdom has also been a driving force behind the surge in demand, the report said.
The market for smartphones is growing at an even faster pace than the supply.
The growth rate for smartphone shipments is outpacing supply growth, the firm said.
The surge in shipments has also driven a steep drop in prices for smartphones, the company said.
More than half of the devices sold in the U.S. were smartphones, and the average price of a smartphone was $249 in 2016, according the report, citing data from the mobile industry trade group, Gartner.
The average price in the EU was $349.
The industry has also experienced an influx of foreign investment in the smartphone market.
According to the research firm IDC, smartphone shipments are up about 25% in the past 12 months.
But the overall market is shrinking.
The data also shows that a growing number of consumers are switching to cheaper models, including cheaper, thinner smartphones.
The report said that nearly a quarter of consumers said they have switched from a $400 or $500 smartphone to a $150 or $200 model.