Emerging markets to push smartphone sales up 23.8pc

NEW DELHI, Aug 31 (PTI): Emerging countries in regions like India and China will help smartphone sales jump close to 24 per cent this year to 1.25 billion, even as the growth pace slows down in mature markets, research firm IDC said.
According to IDC, more than 1.25 billion smartphones are expected to be shipped worldwide in 2014, representing a 23.8 per cent increase from the 1.01 billion units shipped in 2013.
Going ahead, total sales volumes are forecast to reach 1.8 billion units in 2018, resulting in a 12.7 per cent compound annual growth rate (CAGR) between 2013 and 2018.
Emerging markets, which includes Asia Pacific (excluding Japan), Latin America, Central and Eastern Europe, Middle East, and Africa, accounted for more than 50 per cent of the annual smartphone shipments dating back to 2011 and the trend is expected to continue.
In 2014, emerging markets are expected to see sales grow 32.4 per cent to 920.8 million units this year.
On the other hand, mature markets, which have consistently delivered double-digit year-on-year growth till last year, is now forecast to slow to just 4.9 per cent growth to 331.5 million units in 2014.
The emerging markets are expected to grow at a CAGR of 16 per cent compared to 3.6 per cent for mature markets till 2018.