Unlock value in the future smartphone industry
May 10, 2021
RESEARCH REPORT
In brief
In brief
- There are an increasing set of challenges facing the growth of the smartphone industry.
- These challenges are being driven by three dominant trends.
- Providers can choose between four strategies to pursue a path to profitable growth.
10.5%
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.
Strategy #1: Content and services provider
focused on creating and curating content
Strategy #2: Technology leader
trailblazers in hardware and software
Strategy #3: Connected products platform provider
expert at uniting the phone to everything
Strategy #4: Efficient operator
skilled at finding holes and filling gaps
View All
To see which strategy best aligns with your organization, download the full report now.
One key to competing successfully as a tech leader is understanding when to shift to new technology.
– HARVEY KIM, Managing Director
Core capabilities
Regardless of the strategies that a smartphone provider chooses to perform, there are three core capabilities that it must develop to build and maintain position as an industry leader.
- Provide a customer experience that makes your brand shine
- Build resiliency into your supply chain operations
- Demonstrate purpose and sustainability to both employees and consumers
Five steps to fast track success
To navigate the path forward, leaders must ask themselves five critical questions. Among them, how does our organization build in governance and manage risk, while enabling innovation and agility?
For the full list of questions, download the report now.
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