Home ยป Over 500 smartphone brands discontinued within the past 5-6 years: [Counterpoint]

Over 500 smartphone brands discontinued within the past 5-6 years: [Counterpoint]

Readers of Blognone may already be familiar with the fact that in addition to well-known smartphone brands, there are also many smaller smartphone brands in the world, often targeting specific regions. But just how many smartphone brands do we have in the world?

According to market research company Counterpoint Research, there have been over 720 smartphone brands globally, with sales exceeding 1.5 billion units, setting a record high in 2017. However, since then, the number of brands exiting the market has increased. It is estimated that by 2023, there will only be around 250 brands remaining.

The majority of the brands that have exited the market are from India, Africa, Central Asia, China, Japan, and South Korea, often selling exclusively in their respective countries.

Various factors have led to the departure of these smaller smartphone brands from the market. In the past, many brands relied on low specifications, durability, and technology limited to 2G-3G. Additionally, the rapid growth in these markets resulted in new players emerging. However, as time passed, these markets have become saturated, and consumers have started to seek smartphones with higher specifications and more advanced technology. This has led to the dominance of global brands and several Chinese brands that offer competitive pricing. Another significant impact was felt in 2020 when the COVID pandemic struck and caused a chip shortage, which, coupled with the global economic downturn, heavily impacted these smaller brands.

TLDR: Counterpoint Research reports that there were over 720 smartphone brands globally in 2017, with sales exceeding 1.5 billion units. However, since then, the number of brands exiting the market has increased, and it is estimated that by 2023, there will only be around 250 brands remaining. The majority of the brands that have exited the market are from India, Africa, Central Asia, China, Japan, and South Korea, often selling exclusively in their respective countries. Several factors, including low specifications and limited technology, along with market saturation and the impact of the COVID pandemic, have contributed to the departure of these smaller brands.

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