Framingham, Mass.—The global mobile phone market is forecast to grow faster than expected, boosted by the availability of lower-cost smartphones, according to a new report from International Data Corp.
According to IDC's “Worldwide Quarterly Mobile Phone Tracker” report, the mobile phone market will grow by 7.3% this year, faster than an earlier IDC forecast 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, IDC said.
Android-powered phones dominate the smartphone market, with a 75.3% global share, with Apple Inc.'s iPhone at 16.9%. IDC said that Microsoft Corp.'s recent acquisition of Nokia Corp. will help to almost triple the global share of Windows Phone-powered devices by 2017.