Domestic Smartphone Market Expected to Grow 11% This Year... Expansion of 5G Phones

[Asia Economy Reporter Seolgina Jo] The domestic smartphone market, which had contracted last year due to the impact of the novel coronavirus infection (COVID-19), is expected to return to a growth trend. The proportion of 5G smartphones, now in its third year of commercialization, is also expected to expand.

According to market research firm Counterpoint Research on the 14th, the domestic smartphone market shipments this year are estimated to reach 19 million units, an 11% increase compared to 17 million units last year.

It is analyzed that the demand, which had been suppressed due to COVID-19, will grow this year with the popularization of 5G smartphones and the emergence of new form factors such as foldable and rollable phones. Additionally, the recent competition among mobile carriers over 5G plans is expected to have a positive effect on the domestic smartphone market.

Counterpoint Research stated, "The mobile carriers' efforts to reduce plan prices will also have a positive impact, and the share of 5G smartphones in Korea is expected to increase significantly from 49% last year to around 87% this year."

By company, Samsung Electronics, which is set to unveil the Galaxy S21 series, is estimated to maintain its market share at 65%, the same level as last year. Apple, which released its first 5G smartphone, the iPhone 12, last year, is expected to slightly increase its market share from 21% last year to 22% this year.

This content was produced with the assistance of AI translation services.