Otsuma women's university, University in Tokyo, Japan

New Delhi, Sep 21 As consumers prioritise spending on essentials amid economic uncertainties in the pandemic times, they are buying more low-to-mid range smartphones and 73 per cent of smartphone shipments in 2020 is expected to be priced below $400, according to a new report.According to a new price band forecast from the IDC 'Worldwide Quarterly Mobile Phone Tracker," smartphone value is expected to decline 7.9 per cent in 2020 to $422.4 billion down from $458.5 billion in 2019.Overall, the low-to-mid end segment ($100 to less than $400) dominated global smartphone shipments with 60 per cent market share in the second quarter this year and is expected to grow in the short term to 63 per cent by next year."Rising unemployment rates and job uncertainty have influenced consumers' buying patterns towards economic and affordable products. Subsequently, the overall portfolio in smartphones is moving toward low-to-mid end devices," said Sangeetika Srivastava, senior research analyst with IDC's Worldwide Mobile Device Trackers."This has intensified competition as market players need to continue presenting attractive deals and bundling offers to encourage consumers to purchase a new device, especially in the higher-priced segments".The mid-to-high end segment ($400 to less than $600) grew its share of the market by almost four points to 11.6 per cent in the second quarter.Devices from Samsung, Huawei, and other Chinese vendors like Xiaomi, OPPO, and vivo are the main vendors driving these segments.Apple also recently entered the mid segment with its new iPhone SE device, which has performed well, further validating the trend toward more budget-friendly devices, the IDC report said.The pressure on prices is reflected worldwide, though it is most obvious in developing regions like Asia/Pacific (excluding Japan and China), Latin America, Middle East & Africa (MEA) and Central & Eastern Europe (CEE) where under $400 devices captured up to 85 per cent of the market in 2Q20.Even in the US, devices under $200 increased their share 10 points year over year to capture 27 per cent of the market in 2Q20."Looking forward, as consumers increasingly want a better value proposition from their phones, the low and mid segments ($100-$200 and $200-$400) will remain the most popular," said Nabila Popal, research director with IDC's Worldwide Mobile Device Trackers.However, in the long term, IDC expects the fastest growth will be in the $400-600 price band as 5G sales grow and the average selling price (ASP) for 5G phones drops to $465 in 2024.( With inputs from IANS )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Otsuma Women's UniversityFOLLOW

Otsuma women's university, Latest News

The India-Australia-Japan-US Ministerial meeting in Tokyo next week will discuss regional issues and the foreign ministers of the Quadrilateral grouping are expected to collectively affirm the importance of a free, open and inclusive Indo-Pacific. ...

Tokyo, Oct 1 A 'go to eat dining campaign to help coronavirus-affected eateries across Japan kick-started on Thursday. ... ...

The International Olympic Committee (IOC) on Monday announced that the Olympic Torch Relay will start its journey on March 25, 2021, from the J-Village National Training Centre in Fukushima Prefecture, and then traverse all 47 prefectures across Japa ...

Tokyo, Sep 26 In his debut address to the UN General Assembly, Japan's newly-elected Prime Minister Yoshihide Suga ... ...

The International Olympic Committee's (IOC) Coordination Commission and the Tokyo 2020 Organising Committee on Friday agreed on a series of measures to make the Olympic Games 2020 fit for a post-corona world. ...

Tokyo, Sep 25 Japanese Prime Minister Yoshihide Suga told United Nations (UN) Secretary-General Antonio Guterres that Japan will ... ...

New Delhi, Sep 21 As consumers prioritise spending on essentials amid economic uncertainties in the pandemic times, they are ... ...