So sure, a few have come and gone… but so many?
According to an analysis by market research firm Counterpoint Research, the number of active smartphone brands has declined significantly in recent years. In 2017 there were more than 700 brands competing for consumer choice, in 2023 there were only 250. This decline is almost entirely due to the disappearance of local brands, apart from the exit of big brands like LG.
Given the reasons for this development Counterpoint Research Demand is waning due to a saturated user base that can last longer with their devices, as well as improved quality of devices from established manufacturers. Local brands often do not have the research and development and marketing resources to keep up with the big players in the industry.
Demand has also increased from buyers, who now place more value on high specifications, design and integration into ecosystems. Last but not the least, emerging Chinese manufacturers like Xiaomi, Oppo and Vivo have put local heroes out of business with high-quality devices at lower prices.
According to Counterpoint Research, this trend will continue as major brands better deal with current challenges such as pandemics, supply shortages and the transition to 5G. Local providers will need to invest specifically in research and adapt their market strategy to survive.
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