Smartphone sales in US expected to grow only 3 per cent by 2028
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
With 2024 bringing another decline in smartphone sales in the US, a new report on Monday showed that it is expected to grow only 3 per cent by 2028 in the country.
According to data presented by Stocklytics.com, the total sales revenue will drop by $1.2 billion (year-over-year) this year.
"After reaching record highs at the peak of the Covid-19 pandemic, US smartphone sales have been on an up-and-down trend, with the total sales revenue dropping by 10 per cent and then growing by 15 per cent year by year," the report said.
Moreover, the report mentioned that the ongoing battle between iOS and Android has taken an unexpected twist, with the rate of iPhone activations in the US, a key indicator of Apple's market share, dropping to 33 per cent in Q1, the lowest figure in seven years.
"This decline shows a growing market share for Android devices, which now account for two out of every three new activations.
"However, despite Americans choosing more affordable Android devices over iOS smartphones, total sales in the US market are still expected to continue dropping," the report noted.
As per Statista market insights, the US market is predicted to generate $60.8 billion in revenue in 2024 -- $1.2 billion less than last year.
On the other hand, Chinese smartphone sales are expected to fall by $13.7 billion (year-over-year), while the European market will witness the smallest drop of only $600 million.
The slowdown in US smartphone sales is also expected to reduce the country's share in the global smartphone landscape.
As per data, the US will make up only 10 per cent of global smartphone sales in 2028, or 2 per cent less than this year
