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Smartphone sales value grew five percent worldwide in 2018

(Image credit: Image Credit: DisobeyArt / Shutterstock)

The global smartphone market shrunk down three per cent in 2018, according to new research.

However the figures from GfK released at MWC 2019, found that the overall sales value of the market also grew five per cent at the same time, and that there are now 1.44 billion units in the world.

The same report also says that the majority of the total spend goes out on smartphones, and it’s only going to grow an additional one per cent this year.

As a region, APAC is the biggest spender on smartphones and within it – China, which is accounting for 60 per cent of the region’s total market value, and more than half of the volume.

“The Chinese market consumes the majority of the global smartphone production, as well as being the home of local brands that are becoming increasingly global,” commented Alexander Dehmel, Regional Senior Market Insights Manager at GfK.

“Some 40 per cent of the Chinese brands' smartphone production in 2018 was purchased outside of China, that is up from 31 per cent in 2016.”

The report says that people are now more inclined to owning fewer, but premium things. With that in mind, they’re willing to pay higher dollar. Things like better resolutions, better cameras and advanced AI functionalities were the main growth drivers last year. That isn’t expected to change this year, either.

Image Credit: DisobeyArt / Shutterstock