Market for new gadgets is 'effectively in a recession' sales figures suggest

Have we reached peak smartphone? Market for new gadgets is ‘effectively in a recession’ sales figures suggestDirector at Strategy Analytics says industry struggling as iPhones get pricierResearch shows that despite Samsung leading the market, its units fell to 13%Huawai sales soared from 39 million phones sold last year to 51 milllion in 2018

The smartphone market has reached saturation point according to new sales figures that suggest appetite for new gadgets is starting to fall off.

Global smartphone sales figures have fallen by eight per cent in just one year from 393 million units sold in 2017 to 360 million in 2018, according to market research.

Apple came out relatively unscathed in comparison to its competitors, with around 0.50 per cent increase in growth year on year.

Android handsets were a different story, with market leader Samsung among the hardest hit.

The South Korean firm suffered a 13.30 per cent drop over the same period, with Chinese firm OPPO – little known in the west – the only company to perform worse.

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Despite Samsung being the largest vendor, the company was worst hit with units falling 13 per cent between the third quarter in 2017 and the third quarter in 2018 

WHY ARE SALES OF SMARTPHONES IN DECLINE?

According to Strategy Analytics the main reasons are:

The industry struggling to come to terms with heavily diminished carrier subsidies Inventory build up in several regions Lack of innovative and exciting hardware designCustomers going back to basics and buying retro non-smartphones such as the new Nokia rangePeople investing in more expensive high-end smartphones and keeping them for longer periods of time, for example what appears to be

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