A new research has shown that shipment of smartphones is expected to increase by 230 percent in the coming years.
According to tech website PC Advisor, a report published by Juniper Research has estimated that the number of smartphones sold by 2016 could hit one billion, nearly 230 percent up from last statistics of 302 million sold last year.
The report suggests that smartphones priced under $150 will account for at least one third of the total global shipment by 2016 hinting at the low price phones in the future emerging markets.
"In developed markets, many consumers will want to upgrade from a feature phone to a smartphone, but still pay a feature phone price. In emerging markets though, lower average consumer spending power and lack of operator subsidies will make a low price point essential." stated Daniel Ashdown, an analyst at Juniper Research who also wrote the report.
The research also shows that the smartphone market is expected to remain in a good position for next five years due to upcoming technologies being incorporated in the smartphones including near-field communications (NFC), 3D and biometrics and increasing competition among manufacturers which would lead to decrease in prices.