China About to Overtake USA in Mobile Phone Sales Revenues
Published on: 29th May 2014
According to the latest research from Strategy Analytics, mobile phone sales will reach 430 million units and generate revenues of USD87 billion in China during 2014. In contrast, mobile phone sales will stabilize at 163 million units and deliver revenues of just USD60 billion in the United States this year.
China will overtake the United States for the first time ever to become the world's largest mobile phone market by value.
Linda Sui, Senior Analyst at Strategy Analytics, said, "We forecast mobile phone sales to grow 15 percent annually to reach a record 430 million units in China during 2014. Mobile phone trade revenues will surge 53 percent annually to reach a record USD87 billion this year. In contrast, mobile phone sales in the United States will grow zero percent annually, while trade revenues will increase only 4 percent to USD60 billion in 2014. China will finally overtake the United States for the first time this year to become the world's largest mobile phone market by value."
Woody Oh, Senior Analyst at Strategy Analytics, added, "China's impressive mobile growth is being driven by the country's rapid shift to 3G and 4G smartphones. Major brands, such as Samsung, Huawei and Lenovo, are aggressively expanding their distribution channels and product ranges across the region to meet extremely strong demand from Chinese consumers for more advanced mobile phones."
Neil Mawston, Executive Director at Strategy Analytics, added, "The United States is maturing and has now lost its crown to China as the world's largest mobile phone market by revenue. However, it is important to remember the US remains by far the mobile industry's most valuable country by profit. High average selling prices for mobile phones and huge operator subsidies from Sprint and others continue to make the US a very profitable market for major device brands such as Apple, Samsung and Alcatel."