These are mainly local players, unknown in the global market
There are not many brands in the smartphone market, judging by numerous announcements, analyst data, and other popular materials. However, in reality, there are a huge number of them. Moreover, in the last few years alone, about 500 brands have left the market!
About 500 brands have left the smartphone market in six years
According to Counterpoint analysts, from 2017 to 2023, about half a thousand brands left the smartphone market. Moreover, this is not just a large number in itself. The fact is that in 2017, which was the peak year for this market, there were more than 700 brands present. That is, about two-thirds were gone. By the end of this year, about 250 players will remain active.
There are many reasons for this situation. This includes improving the quality of smartphones themselves, longer replacement cycles, the transition to 5G, and the economic crisis.
Interestingly, the number of global brands has changed slightly over the past years: most local players are leaving the market.
