In the last quarter of 2018, the global market for smartphones witnessed a drop in sales; as a result, two of its biggest players Apple and Samsung are hurting badly, CNN Business reported.
Both the smartphone makershave warned of slumping sales in the same period compared to the previous year. Other players such as Samsung’s South Korea competitor LG witnessed 80 percent drop in operating profit in the last quarter of 2018.
Industry analysts, however, are predicting a gradual return to growth this year.
According to preliminary forecasts byCanalys and Counterpoint Research, the industry declined around one percent in 2018 – the first annual decline for the market ever, the report said.
“[In] 2018 the market was so bad that it will be easy for 2019 to be a better year,” said Tom Kang, a research director at Counterpoint. “[The] first half looks gloomy but second half we can expect these things to pan out,” he added.Mr.Kang was quoted as saying.
Canalys and Counterpoint Researchare tech consultancies.
A sharper pickup is expected in India and Africathis year, analysts are predicting. Although the Chinese market continues todeteriorate.
“Those markets will continue to grow, to push up the global smartphone market size,” said Mo Jia, an analyst at Canalys, adding that the global market will likely return to “very slim growth in 2019.”