Mobile Phone Market Growing Faster Than Expected
The worldwide mobile phone market is projected to grow faster than previously forecast, boosted by the availability of lower-cost smartphones, according to industry analysts.
The mobile phone market is now projected to grow by 7.3% this year, faster than earlier forecasts of 5.8%, with total sales of 1.8 billion handsets. Smartphone shipments will surpass 1 billion units for the first time, up 40% from a year ago, driven partly by adoption of lower-cost models in developing countries.
Android-powered phones dominate the smartphone market, with a 75.3% global share, with Apple Inc.\'s iPhone at 16.9%. The Microsoft recent acquisition of Nokia Corp. will help to almost triple the global share of Windows Phone-powered devices by 2017.