Smartphone boon era seems to be over. Smartphone market is maturing.
Gartner’s latest figures record the first ever decline (a 5.6 per cent decline over Q4 2016 figure) since the analyst began tracking the market. (Though it’s not the first analyst to call a decline.)
Global smartphone sales have not been firing on all cylinders for several years now. Huawei and Xiaomi were the only smartphone vendors to actively increase their market shares.
Two main factors led to the Q4 sales drop: A slowing of upgrades from feature phones to smartphones and existing smartphone owners keeping them for longer. Even Chinese buyers appear to be getting tapped out.