Decline for smartphone demand for 2020 with flat growth expected for 2021.
Trends behind industry change
Three trends are influencing the smartphone industry’s evolving landscape. For starters, the reemergence of customer experience as a top differentiator. Secondly, the explosion of connected products that stem from advanced technologies (e.g., AI, ML, etc.). Finally, the risk of supply chain disruptions brought on by geopolitical issues.
Each presents unique challenges to overcome and opportunities to exploit.
Consumer interest in software and ecosystem features, choice of apps, and personal assistants continues to rise.
Four strategies to drive growth and profitability
Smartphone makers need to reconsider their focus and where in their industry’s evolving ecosystem they are best suited and most compelled to add value. We’ve identified four strategies providers can lean into to capture share of mind and wallet.